South African Unemployment Rate: 24.9%

We are taking a quick peak at South African unemployment. We are using the South African Statistics Office information.

The Stats SA unemployment report is here. The reported rate is 24.9% which is down 0.8% (25.7%) from same period last year.

Here is a more detailed article on SA unemployment can be found in South Africa Info. Quote "4.5 Million people are out of work and 3 Million has be out of work longer than a year."

Gross Domestic Product grew by 3.2% annualized rate in the second quarter of 2012.

South Africa ranks 123rd in the UN Human Development Survey.

Two high level fashion media appointments

Huffington Post is reporting that two black women have received high media appointments.  Here. 

Wal-Mart workers strike in California

A group called Organization United for Respect at Walmart has staged one of the first strikes at a Wal-Mart store. Wal Mart has been very successful at avoiding unionization. Wal-mart make heavy use part-time and low paid workers. A story link from ABC News is here. The group is known as OurWalmart for short. Their web site is call forrespect.org.   The article reported the group is backed by the the United Food and Commercial  Workers Union and UFCW has a link on their website highlighting the protest.

Macy's to hire 80,000 temps during holidays

Macy's said it will hire 80,000 temporary workers during Christmas 2012.

Here is Macy's press release.  Here is a link to Macy's Jobs website.

NYTimes: Top tax rates and economic growth

Here is a great piece by NYT's David Leonhardt on a CRS study that top taxes rates have little effect on economic growth.

NY Times

Here is a link from the NY times website.
Congressional Research Service Report

black middle class

http://www.salon.com/2012/09/03/can_the_black_middle_class_survive/

"'Jobs report' is the hangover.

In August Mitt Romney called the July unemployment report, "A hammer blow to the middle class." We love such over the top rhetoric.

This months comment is a little tamer. Mitt said, referencing the DNC convention and the jobs report, "If last night was the party, this morning is the hangover."

Courtsey of ABC News.

LA Times also has the "hangover" story.