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``the key thing the Fed head is watching is any changes in wages to determine where benign wage inflation is headed. Well, as the chart below shows, it is headed exactly nowhere, because 6 years after the recovery, wages simply refuse to rise... In brief: well-paying jobs lower, low-paying jobs much higher.'' -- Note also The Strangest Number In Today's Jobs Report (perhaps the surge in hiring IS food service people in the 16-24 age range... if the bump is even real...). See also Job Cuts Surge 68%, Most In 3 Years; Worst October Since 2009.

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(Reuters) - U.S. Federal Reserve Chair Janet Yellen on Friday called on politicians across the globe to get their fiscal houses in order during good times to prop up economies during times of turmoil.

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UPDATE: October's numbers are in from the Bureau of Labor Statistics: 214,000 jobs added, and the unemployment rate "edged down" to 5.8 percent.  The monthly employment report from the Department of Labor will likely show the economy added approximately 240,000 jobs in October, and unemployment held steady at 5.9 percent, after falling below 6.0 percent in September for the first time since mid-2008. Economists can point to steady improvement over the past several years in those two statistics—job creation, and the unemployment rate (which was 7.2 percent in September 2013, and 9 percent two years earlier). Yet, this ‘official’ unemployment rate doesn’t accurately characterize many aspects of the labor market right now—in particular, how hard it still is to land a middle-income job; how easy it is for employers to find qualified candidates; and how little those employers have to compete with each other over wage and benefit offers, in order to hire the workers they want. The ‘official’ unemployment rate—called the U-3 by the Bureau of Labor Statistics—only counts how many people are actively unemployed. They’re looking for work and actually applied for a job in the past four weeks. But right now, the number of people who are not working, but would like to work, is unprecedentedly high. These people have given up looking—possibly because they don’t think any jobs are available for them, or perhaps to attend school and upgrade their skills, or to go into semi-retirement. They’ve pushed down the labor force participation rate to its lowest level (62.7 percent in September) since the late 1970s. Combine these discouraged and marginally attached workers with the ‘underemployed’—people who would like to find better-paying full-time jobs but can only find part-time jobs—and total unemployment (the U-6 rate), as measured by the BLS, is averaging well over 12 percent in 2014 (it was 11.8 percent in September). Economists have anticipated that some attrition in the labor market would occur when the Baby Boomers began retiring earlier this decade. But in fact, after the recession, older workers have stayed on the job longer than was predicted, on average. With retirement savings and home equity depleted by the recession, older Americans are holding on to jobs if they can. “Where we’re seeing large declines in labor force participation is actually among prime-age workers,” explains University of California-Berkeley economist Jesse Rothstein, “especially among people in their early twenties. It’s hard for me to believe that there’s this enormous group of people in their early twenties who have decided that they’re never going to work.” Rothstein and many other economists believe the economy hasn’t changed structurally so that fewer people want to work or feel the financial need to work. Rather, they think the labor market is simply too weak, and demand in the economy too anemic, to employ all the potential workers who want and need jobs. They believe if the economy strengthens significantly, many of those potential workers will come out of the woodwork and begin job-hunting again. Absent such improvement, the labor market is likely to remain slack, even if the official unemployment rate continues to decline steadily and eventually dips below the Federal Reserve’s target of 5.5 percent. Fed policymakers, led by chair Janet Yellen, have said they are looking at other labor market indicators in addition to the unemployment rate, to make sure they don’t withdraw economic stimulus and kill the nascent recovery before it’s helped the hard-core and long-term unemployed, the underemployed, and discouraged workers. Rising wages are now considered a key harbinger of labor-market tightening by market participants and Fed policymakers, explains economist John Canally at LPL Financial. “I think that’s the ultimate indicator—to get wage growth back to normal, back to the 3.5-percent-to-4.5-percent gains we saw prior to the Great Recession,” said Canally. “Then I think there’ll be confidence that businesses are finding it more and more difficult to fill jobs.” In recent years, average hourly earnings have been rising in the 2-percent-per-year range, just keeping pace with inflation. Another indicator of a tightening labor market would be a reverse in recent declines in labor force participation, especially among prime-age workers. If more people who have dropped out of the workforce, or never entered it after high school or college,  started looking for work again, that might raise the unemployment rate temporarily. But it would be another sign the economy is truly on the mend.

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Over the last few years, Verizon has been ramping up its behavioral tracking efforts via programs like Verizon Selects and its Relevant Mobile Ad system, which track wireless and wireline subscriber web behavior to deliver tailored ads and sell your information to third parties. Unknown until a few weeks ago however was the fact that as part of this initiative, Verizon has started using what many are calling controversial "stealth," "super" or "perma" cookies that track a user's online behavior

Read more: Techdirt.

JOHANNESBURG (Reuters) - The United States is considering partnering with China on improving electricity in Africa and the proposal could be part of bilateral discussions when President Barack Obama visits Beijing next week, two sources involved told Reuters.

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Monitise: The Future of Mobile Money by Teddy Vallee Forward The recent sell-off in Monitise Plc (LON:MONI) (OTCMKTS:MONIF) provides longer-term investors an extremely attractive entry point, with asymmetrical risk reward. Recent open-market purchases from the company’s Co-CEO; strategic partnerships with Visa, Visa Europe, MasterCard, and IBM; and competitive positioning within the mobile money space are currently… The post Monitise Plc: The Future of Mobile Money? appeared first on ValueWalk.

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Shares of Sears Holdings Corp shot upward by as much as 45% during regular trading todaySears Holdings Corp (NYSE:SHLD) said today that it is considering converting 200 to 300 stores into a real estate investment trust (REIT). The struggling retailer then would offer the REIT to shareholders in order to raise some much-needed cash. Sears… The post Sears Holdings Corp Considers Creating REIT, Shares Skyrocket appeared first on ValueWalk.

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KIEV/MOSCOW (Reuters) - Ukraine's military accused Russia on Friday of sending a column of 32 tanks and truckloads of troops into the country's east to support pro-Russian separatists fighting government forces.

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For over 20 years, Fiderer has been a banker covering the energy industry. Before that he was a tax lawyer. He wrote extensively about the crisis in Huffington Post until early 2011, when there was blowback in response his characterization of claims made by Peter Wallison, about Fannie and Freddie’s role in the mortgage crisis,...Read More

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During yesterday's session, SPX reached its next target zone (2028-31), so we'll see if that generates anything by way of reaction.  So far during this rally, there have been minor reversals at the pivot zones and targets I've noted along the way, but there still has been nothing in the way of a clear impulsive decline for bears to take seriously.  I keep hearing bears talk about how they're short, and I cringe a bit when I hear this, because, since this rally started, there has been nothing in the way of a concrete signal to short this market for more than a near-term trade. Maybe
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NEW YORK (Reuters) - A group of scientists including three Nobel laureates in medicine has proposed that U.S. health officials chart a new path to developing Ebola drugs and vaccines by harnessing antibodies produced by survivors of the deadly outbreak.    

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The Russian government's efforts to carve out its own internet continue. It's never been shy about its interest in accessing (and censoring) internet users' activity and data, what with its required registration for bloggers, demands for US-based companies to hand over user data and threats to block content stored on foreign servers -- and that's just since the beginning of this year. A law outlawing the use of offshore servers to store Russian internet users' data and content goes into

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After democratic defeat, says "there is a god"In regards to investing in emerging markets, Sam Zell, a speaker for the sixth year in a row at the Invest for Kids conference, said he likes Colombia, India and the US when the deal represents an appropriate value. Colombia in particular is a benefactor of a generous US… The post Sam Zell Says U.S. Prettiest Girl in Whore House appeared first on ValueWalk.

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Unlike other companies in the industry, First Solar will not spin off its solar power plants into a separate public traded entityFirst Solar, Inc. (NASDAQ:FSLR) will not spin off its solar power plants to form a separate public traded entity like some of its competitors its chief executive noted on Thursday. The company’s stock dropped… The post First Solar, Inc. Decides Not To Spin Off Solar Assets appeared first on ValueWalk.

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WASHINGTON, Reuters - U.S. job growth increased at a fairly brisk clip in October and the unemployment rate fell to a fresh six-year low of 5.8 percent, underscoring the economy's resilience in the face of slowing global demand.

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LONDON (Reuters) - British regulators investigating allegations of collusion and manipulation in the foreign exchange market could fine a group of six banks as early as next Wednesday, people familiar with the matter said.

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> I am back again for another bout with Tom: If you are anywhere near a radio this mornings, I will be debating the significance of the jobs data on “Bloomberg Surveillance” with Tom Keene from 8:30 – 10 am. You can catch it live, or via podcast at Bloomberg or at iTunes. Always lots...Read More

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KIEV (Reuters) - A column of 32 tanks, 16 howitzer artillery systems and trucks carrying ammunition and fighters has crossed into eastern Ukraine from Russia, the Kiev military said on Friday.

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MURSITPINAR Turkey/BEIRUT (Reuters) - Iraqi Kurdish forces have blunted but not broken the siege of the Syrian border town of Kobani, a week after arriving to great fanfare with heavy weapons and fighters in a bid to save it from Islamic State.

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