Mish's Global Economic Trend Analysis |
French Unemployment At New Record Highs: Whom Do They Blame? Posted: 02 May 2015 07:28 PM PDT While ECB president Mario Draghi brags his economic policy of negative interest rates is working, I ask for whom? On April 23, 2015 I noted Spain's Unemployment Rate Increases to 23.7%; 114,300 Jobs Vanish in First Quarter, Public Sector Jobs Rise. Let's now turn our attention to France.
France Unemployment Rate Flashback January 27, 2014 Mish: France Unemployment Hits New Record High; Hollande's November Pledge Reviewed In November, French president Francois Hollande announced he had met his electoral pledge to halt the rise in joblessness by the end of 2013.Whom Do The French Blame? Via translation from Les Echos, May 2, 2015: Poll shows 75% of French Do Not Expect Improvement in Unemployment until 2017. Recent unemployment figures reached a new record in March with 3.51 million of job seekers in mainland France without activity. Three quarters of respondents think that unemployment will not decrease by the end of the five year term of Francois Hollande, according to a poll for Odoxa iTELE and Le Parisien published on Friday.Question for Draghi I have a question for Mario Draghi: Is this what it means to have your negative interest rate policies "work"? One cannot blame the ECB for French nonsense. Yet, one can blame the ECB for stupidity in attempting to solve via economic policy, something that cannot possibly be solved that way. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com |
Posted: 02 May 2015 10:50 AM PDT I have written about Twinkies three times before. Recall that in November of 2012, Hostess, the owner of Twinkies, Ding Dongs, Ho-Ho's and other sweet treats gave an ultimatum to 15,000 union workers to accept pay cuts or get fired and lose their pensions as well. Flashback November 15, 2012: Hostess to Liquidate if Bakers' Strike Continues Through Thursday; End of Twinkies Hours Away? It's do or die for 18,000 Hostess workers including 5,000 in the bakers' union.Flashback November 18, 2012: Chris Christie Provides Perfect Setup for Saturday Night Live At a recent news conference, Christie was asked a question about Twinkies. He responded ...Flashback November 22, 2012: Hostess Fires 15,000 Workers in Liquidation; Twinkies Silliness From Readers The first step in liquidation will be the firing of 15,000 workers including the closure of 33 bakeries, 565 distribution centers, approximately 5,500 delivery routes and 570 bakery outlet stores.Miracle Comeback Now that we have the backdrop out of the way, please consider Twinkie's Miracle Comeback: The Untold, Inside Story of a $2 Billion Feast Walk in the door of Hostess Brands' flagship bakery in Emporia, Kansas and your first thought is: What a dump. The former front office for the bakery that pumps out classic American treats like golden Twinkies and swirl-topped Cup Cakes is a series of dank, near-empty rooms with scuffed, oatmeal-color linoleum floors, water-stained ceiling panels and a jumble of mismatched office furniture that looks like it was picked up off the curb.The problem should now be pretty clear to everyone: mismanagement coupled with inane union work rules and benefits. I thought the problem was clear in November 2012. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com |
You are subscribed to email updates from Mish's Global Economic Trend Analysis To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
Google Inc., 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States |