even as unemployed workers in Germany lose income, energy, and vitality — not to mention social connections, emotional support, and hope — they’re actually better off than employed Germans who have bad managers. That’s right: In Germany, where 71% would keep working even if they didn’t have to, disengagement at work is worse than unemployment.

Only about 30% of actively disengaged employees and unemployed workers are thriving

In 2012, Gallup administered its Q12 employee engagement survey to employed workers in Germany and its wellbeing assessment to employed and unemployed workers. Gallup asked both groups to rate their current lives and predict their lives five years in the future, then categorized them as “thriving,” “struggling,” or “suffering” based on their responses.

Read it all.

For those over 50 and unemployed, the statistics are grim. While unemployment rates for Americans nearing retirement are lower than for young people who are recently out of school, once out of a job, older workers have a much harder time finding work. Over the last year, according to the Labor Department, the average duration of unemployment for older people was 53 weeks, compared with 19 weeks for teenagers.

There are numerous reasons ”” older workers have been hit both by the recession and globalization. They’re more likely to have been laid off from industries that are downsizing, and since their salaries tend to be higher than those of younger workers, they’re attractive targets if layoffs are needed.

Even as they do all the things they’re told to do ”” network, improve those computer skills, find a new passion and turn it into a job ”” many struggle with the question of whether their working life as they once knew it is essentially over.

Read it all.

When Greece ran into financial trouble three years ago, the problem soon spread. Many observers were mystified. How could such a little country set off a continental crisis? The Greeks were stereotyped as a nation of tax-dodgers who had been living high on borrowed money for years. The Portuguese, Italians and Spanish insisted that their finances were fundamentally sound. The Germans wondered what it had to do with them at all. But the contagion was powerful, and Europe’s economy has yet to recover.

America seems in a similar state of denial about Detroit filing for bankruptcy…. Many people think Motown is such an exceptional case that it holds few lessons for other places. What was once the country’s fourth-most-populous city grew rich thanks largely to a single industry. General Motors, Ford and Chrysler once made nearly all the cars sold in America; now, thanks to competition from foreign brands built in non-union states, they sell less than half. Detroit’s population has fallen by 60% since 1950. The murder rate is 11 times the national average. The previous mayor is in prison. Shrubs, weeds and raccoons have reclaimed empty neighbourhoods. The debts racked up when Detroit was big and rich are unpayable now that it is smaller and poor.

Read it all.

The economy may be sputtering along. But it hasn’t been in recession for more than four years. More than half of Americans think it still is.

A majority of people ”” 54% ”” in a new McClatchy-Marist poll think the country is in an economic downturn, according to the survey conducted last week and released Tuesday.

One bright spot: July’s figure marks the lowest proportion of Americans who have held that view since 2008. About a third of those surveyed don’t think the economy is in a slump, while 8% are unsure, according to the poll. In March, 63% thought the economy was in recession.

Read it all.

Climbing the income ladder occurs less often in the Southeast and industrial Midwest, the data shows, with the odds notably low in Atlanta, Charlotte, Memphis, Raleigh, Indianapolis, Cincinnati and Columbus. By contrast, some of the highest rates occur in the Northeast, Great Plains and West, including in New York, Boston, Salt Lake City, Pittsburgh, Seattle and large swaths of California and Minnesota.

“Where you grow up matters,” said Nathaniel Hendren, a Harvard economist and one of the study’s authors. “There is tremendous variation across the U.S. in the extent to which kids can rise out of poverty.”

That variation does not stem simply from the fact that some areas have higher average incomes: upward mobility rates, Mr. Hendren added, often differ sharply in areas where average income is similar, like Atlanta and Seattle.

Read it all.

Employed Americans of all ages with college degrees are less likely to be engaged at work than are their respective peers with a high school education or less, so their engagement is not related to being a recent graduate.

College-educated American workers’ lower engagement mainly stems from being less likely to strongly agree with the statement “at work I have the opportunity to do what I do best every day.” Americans with some college education or a college degree were also less likely to use their strengths at work.

The engagement findings by education level are based on Americans’ assessments of workplace elements with proven linkages to performance outcomes, including productivity, customer service, quality, retention, safety, and profit.

Read it all.

Two-thirds of the way through George Packer’s harrowing and magisterial account of post-2008 America, we meet a Florida boat builder named Jack Hamersma ”“ a rough-hewn, working-class guy who’d climbed up the economic ladder only to find himself drawn into the maelstrom of the real-estate speculation that destroyed huge tracts of suburbia in the wake of the Lehman Brothers collapse.

Like thousands of naïve speculators ”“ the 1920s-era shoeshine boys with the hot stock tip ”“ Hamersma’s savings were tied up in a heavily mortgaged house that lost most of its value after the bubble burst. With repo men circling and foreclosure looming, he retained Matthew Weidner, a small-time Florida lawyer (think Paul Newman in The Verdict) to defend him against the venality of a banking sector that imploded after an orgy of deregulated and frequently fraudulent greed.

The lawyer was able to keep the lenders from foreclosing on Hamersma. But as lawsuit dragged on, Hamersma’s life unwound into insolvency and costly cancer diagnoses. “That happened a lot to Weidner’s clients ”“ the job, the house, their health, usually in that order,” writes Packer, a New Yorker staff writer, novelist and playwright. “Weidner watched Jack shrink before his eyes, dropping a hundred pounds until, three years after that first consultation, he limped into the office one afternoon to discuss his case, wasted legs sticking out of his shorts, a canvas bag hanging over his shoulder, from which a drip tube extended under a bandage on his chest.”

Read it all.

Last month, Canada was lauded by the OECD for how its college system connects graduates with the labour market and leads to lower youth unemployment. In its annual global education survey, the OECD found that youth employment in countries where vocational training was strong fared better in the last recession and recovered faster.

Yet a bit of rifling through the report suggests that Canada is quite unusual among countries with vocational education: We wait a very long time to offer it. As a result, we are one of the few countries where more people graduate from postsecondary than high school. We think that having lots of graduates from higher ed is good. But what if it means that we waste an awful lot of time in high school?

Compare Germany, Austria, Poland and Slovenia. There, partnerships between business and schools start in high school and training continues throughout one’s career, leading to promotions and advancement in spite of the “lack” of postsecondary credentials.

Read it all.

The official unemployment rate is 7.6%. However, if you start counting all the people who want a job but gave up, all the people with part-time jobs that want a full-time job, all the people who dropped off the unemployment rolls because their unemployment benefits ran out, etc., you get a closer picture of what the unemployment rate is. That number is in the last row labeled U-6.

U-6 is much higher at 14.3% [and note that month over month U-6 ROSE from 13.8% to 14.3%]. Both numbers would be way higher still, were it not for millions dropping out of the labor force over the past few years.

Read it all and he also has more on this today. I have emphasized the importance of U-6 as the best gauge of the employment situation over and over and over again–KSH.

“The recovery has basically been a recovery for a tiny fraction of the population,” said Geoffrey Godbey, professor emeritus at Pennsylvania State University and co-author of “Time For Life: The Surprising Ways Americans Use Their Time.” “What you’re seeing is people who might want more work but aren’t getting it,” he said.

Read it all (emphasis mine).

The Federal Reserve chairman, Ben S. Bernanke, said on Wednesday that the central bank intended to reduce its monetary stimulus later this year ”” and end the bond purchases entirely by the middle of next year ”” if unemployment continued to decline at the pace that the Fed expected.

Mr. Bernanke said that the Fed planned to continue the asset purchases until the unemployment rate fell to about 7 percent, the first time that the Fed has specified an economic objective for the bond-buying. The rate stood at 7.6 percent in May.

The Federal Reserve also struck notes of greater optimism about the economic recovery, saying in a statement released after a two-day meeting of its policy-making committee that the economy was expanding “at a moderate pace,” the job market was improving and risks to the recovery had “diminished since last fall.”

Read it all.

Amid speculation that the Federal Reserve soon might start scaling back its stimulus efforts, the International Monetary Fund cautioned that a pullback before next year could hurt economies worldwide.

Highlighting its concern Friday, the IMF lowered its forecast for U.S. economic growth next year to 2.7% from an earlier projection of 3%.

The IMF also criticized U.S. fiscal policy, calling for the repeal of the automatic federal spending cuts, known as the sequester, and urging lawmakers to act promptly to raise the nation’s debt limit.

Read it all.

Next up, the employment population ratio:

June 1985 – 59.8%
May 2013 – 58.6%

Many economists consider the employment population ratio to be THE most important indicator for the labor market, and it’s interesting to note that we are currently 1.2% under the rate posted in June of 1985, which is quite a difference.

Next up – the labor force participation rate:

June 1985 – 64.6%
May 2013 – 63.4%

Again, another significant difference.

Read it all.

Fewer Americans are now optimistic about their future personal financial situations, with 57% saying they will be better off in a year, down from 66% who said so last October. Optimism still surpasses pessimism, as 29% expect to be worse off a year from now — although that is up from 11% who said so last fall.

Read it all.

Dan Selec, whose son was diagnosed with autism, had a big idea: to train and then hire autistic students to work with technology. In 2008 he founded his nonprofit, the nonPareil Institute, which teaches software skills to those with autism and then hires many of them. Now, these workers are increasingly finding themselves in demand for the skills they’ve learned.

Watch the whole wonderful video report.

The leaks by Edward Snowden reveal a vulnerability in U.S. intelligence since 9/11, triggered by a surge of information collected on people around the world and the proliferation of private government contractors to store, sift and manage it.

Mr. Snowden and other private employees with permission to plug directly into National Security Agency systems have unprecedented access to highly sensitive information””the result of years of pressure to break down the walls dividing U.S. intelligence agencies and share information that might expose the next terror plot.

Thousands of workers employed by government contractors sit side by side with federal workers and hold security clearances that provide access to intelligence databases. The result is a system so enmeshed that government and contract workers are often indistinguishable.

Read it all.

On economic life, Pope Francis sees his responsibility in clear terms:

The Pope loves everyone, rich and poor alike, but the Pope has the duty, in Christ’s name, to remind the rich to help the poor, to respect them, to promote them. The Pope appeals for disinterested solidarity and for a return to person-centred ethics in the world of finance and economics. (5/16/213)

This strong call for ethics in economics is not new. He stands in continuity with his predecessors, particularly Pope Benedict in Deus Caritas Est and Caritas in Veritate. Francis’ mind is with the Church and its constant teaching. Where Francis is unique is his directness, urgency and passion. It’s where he comes from and where he stands that makes a difference. Francis’ heart is with the poor; his feet were planted in the villas miseriasof Latin America. He calls for a Church “of and for the poor” that is not turned in on itself, but “in the streets.”

He has lived the Church’s social teaching in his own ministry so he speaks confidently and bluntly on its demands. Having challenged the Marxist temptations of some elements of liberation theology, he is more than comfortable challenging some elements of “savage capitalism” (5/21/13). He refused to worship at the altar of Marxist utopianism; he won’t bend a knee to the utilitarian advocates of the invisible hand of the market. As someone who challenged government corruption and overreach in Argentina, Francis recognizes the limitations of the state, but won’t abandon Catholic teaching on the obligation of government to protect the poor and seek the common good in economic life.

Read it all.

I don’t have children, so it might seem that my story lacks relevance to the work-life balance debate. Like everyone, though, I did have relationships ”” a spouse, friends and family ”” and none of them got the best version of me. They got what was left over.

I didn’t start out with the goal of devoting all of myself to my job. It crept in over time. Each year that went by, slight modifications became the new normal. First I spent a half-hour on Sunday organizing my e-mail, to-do list and calendar to make Monday morning easier. Then I was working a few hours on Sunday, then all day. My boundaries slipped away until work was all that was left.

Inevitably, when I left my job, it devastated me. I couldn’t just rally and move on. I did not know how to value who I was versus what I did. What I did was who I was.

Read it all.

The sprawling compound [of Norton Manor] is a product of Washington’s Gilded Age””a time of lush business profits initially fueled by government outsourcing and war. Some demographers predicted the boom here would ebb as federal spending shrank amid troop withdrawals from the Middle East and efforts to trim the deficit.

Instead, the region has shown surprising resilience, thanks to an economy that has steadily broadened beyond the government. More than a generation of heavy federal spending, it turns out, has provided the seed money for a Washington economy that now operates globally””less tied to the vicissitudes of the capital’s political rhythms.

Read it all.

“The decade of the 2000s witnessed the most rapid change in the percentage of married mothers earning more than their husbands of any decade since 1960,” said Philip Cohen, a University of Maryland sociologist who studies gender and family trends, in The Washington Post. “This reflects the larger job losses experienced by men at the beginning of the Great Recession. Also, some women decided to work more hours or seek better jobs in response to their husbands’ job loss, potential loss, or declining wages.”

There are substantial differences between single mothers, who make up nearly two-thirds of mom breadwinners, and the 37 percent of mothers who are married and primary breadwinners.

The median family income of married mothers who earn more than their spouses was about $80,000 in 2011, nearly four times the $23,000 median for families led by a single mother. In comparison, the national median family income for all families with children is $57,100.

Read it all.

A record 40% of all households with children under the age of 18 include mothers who are either the sole or primary source of income for the family, according to a new Pew Research Center analysis of data from the U.S. Census Bureau. The share was just 11% in 1960.

These “breadwinner moms” are made up of two very different groups: 5.1 million (37%) are married mothers who have a higher income than their husbands, and 8.6 million (63%) are single mothers.

Read it all.

A U.S. economy that was supposed to be barely hanging on is starting to look surprisingly robust.

Housing prices rose faster over the past year than they have in the past seven, according to data out Tuesday. Consumer confidence hit its highest level in five years. The stock market rallied another 0.6 percent as measured by the Standard & Poor’s 500, leaving it just short of an all-time high reached last week. And the national retail price of gasoline fell for six days straight through Monday and is down 16 cents a gallon since late February.

It adds up to this reality: In a year when tax increases and spending cuts by the federal government were expected to bleed life out of the economy, the strengthening housing and financial markets are proving to be more powerful than acts of Congress.

Read it all.

About 41 percent of master’s of divinity graduates expect to pursue full-time church ministry, down from 52 percent in 2001 and from 90-something percent a few decades ago, according to the Association of Theological Schools, the country’s largest such group.

Americans, particularly young ones, are becoming less religiously affiliated, and many see churches as too focused on internal politics and dogma and not enough on bettering the outside world. Institutional religion doesn’t have the stature it once did, and pastor jobs are fewer and less stable.

The skepticism about religious institutions has led to a broadened concept of what it means to minister. Like Allen, seminary graduates today use the words “ministry” and “calling” to describe their plans to employ their understanding of theology in a new career or to use their degrees to bring more purpose to what they are already doing. And seminaries are busily trying to accommodate them, creating new degrees for careers in such areas as urban ministry and psychology.

Read it all.

Spring may have sprung, but not all economists are sprightly about the outlook for the global economy.

In fact, as a Toronto audience heard Wednesday morning, the risk of a recession in Canada is “higher than normal,” the U.S. is set for “unspectacular” growth, Europe is poised for another downturn and even the BRIC countries will not be the economic drivers they had been in the past decade.

Those are the views of one of the more Eeyore-ish research firms around: London-based Capital Economics, whose conference Wednesday was entitled: “Is the world on the road to recovery?” (The answer: Sort of. But it will be a “long and fairly bumpy” road, one in which Europe is in danger of veering off).

Read it all.

A former top level church boss has appeared in court charged with lying about his degree to win his £45,000 a year job.

Maximilian Manin, 54, was the most senior official in the Lincoln Diocese, which is responsible for all Church of England parishes in the county.

Read it all.

America’s credit crunch is easing. For the past six years, consumers and businesses have struggled to borrow money, but slowly, things are getting easier.

Large U.S. companies are taking advantage of low interest rates to borrow record amounts of capital in bond markets. Banks are opening the spigots for commercial and industrial firms, and loans grew at an 11% annualized rate in the first quarter of this year, the sixth double-digit percentage increase in seven quarters, Federal Reserve data show. According to the Fed’s survey of senior bank-lending officers released Monday, 28% of banks lowered the cost of credit lines early this year to smaller firms like Mr. Aaron’s that have annual sales of less than $50 million. Residential lending began edging up last year, and even people with bad credit can get a loan to buy a car these days.

Read it all.

(Please note that you may find an earlier discussion of the importance of U-6 as a measure of the real labor market situation in this blog post and discussion from Februaryl–KSH).

Voluntary plus involuntary part-time employment rose by a whopping 441,000 jobs. Take away part-time jobs and there is not all that much to brag about. Indeed, full-time employment fell once again, this month by 148,000.

Read it all and there is another article there. For the table of all six employment/unemployment measures, you may go there.

Employers kept hiring at a steady pace in April and the government revised up job tallies for February and March, easing fears that the economy is tumbling into a spring slump and propelling blue-chip stocks to record highs.

Nonfarm payrolls rose by 165,000 last month and the jobless rate ticked down to 7.5%, the lowest level since December 2008. The Labor Department also significantly raised hiring estimates for the two prior months, by a combined 114,000 jobs.

But the job gains in April, which were tilted toward the retail and business-services sectors, come alongside mixed signals for the economy almost four years into the recovery. While the housing and auto sectors are accelerating after years of industry turmoil, other major sectors are showing signs of trouble. In short: The Federal Reserve is looking for more broad-based and sustained job growth before easing up on its easy-money policies.

Read it all.

Many part-timers are facing a double whammy from President Obama’s Affordable Care Act.

The law requires large employers offering health insurance to include part-time employees working 30 hours a week or more. But rather than provide healthcare to more workers, a growing number of employers are cutting back employee hours instead.

The result: Not only will these workers earn less money, but they’ll also miss out on health insurance at work.

Read it all.

The economy lurched this spring into an even lower gear, from manufacturing to services to construction, leaving the Federal Reserve poised to prolong or expand its bond-buying stimulus.

Central bankers Wednesday kept benchmark rates near zero and quantitative easing purchases at $85 billion a month. But changes in their statement highlighted shifting emphasis.

“The Committee is prepared to increase or reduce the pace of its purchases to maintain appropriate policy accommodation as the outlook for the labor market or inflation changes,” it said.

Read it all.