Keil Hubert is a part-time writer and cyber-security consultant.
He is also an indicator.
He’d rather not be. But he is.
“Since April of 2013 I’ve applied for 476 positions, not one of which has led to an actual offer for full-time work.”
Hubert reached the maximum number of years allowable at his government job, and had to retire from public service. But at age 45 he isn’t ready to retire, and finds himself routinely overqualified for many private sector jobs. So, he is left working part time.
“Even with part time and unemployment benefits it’s not enough to get by,” he says. “It’s a little frustrating.”
Hubert is what the Bureau of Labor Statistics calls a part-time worker “for economic reasons.” It means that he is looking for full-time work but can’t find it. His situation is invisible if one looks only at the unemployment rate (6.2 percent), but it’s still important because it’s a glimpse into job quality, as opposed to quantity.
“It’s an indicator of job market slack,” says Gary Burtless, economist at the Brookings Institution. “A lot of Americans have been forced to accept jobs in part-time positions when they would prefer to work full time.”
Ten years ago, about 4.5 million Americans fit that bill. Today, around 7.5 million do. That’s up slightly from 7.3 million in January, though the number fluctuates regularly.
This is tied to the long term unemployed – those out of work for six months or longer – whose levels have also been slower to come down, says Burtless. “That is pushing a lot of Americans to take second or third or fourth or fifth choice jobs rather than the jobs and occupations and levels of hours they would prefer,” says Burtless.
Perhaps one of the most important “quality of jobs” indicators is wages and compensation, says Joe Kalish, Chief Global Macro strategist with Ned Davis Research. “One of the indicators that’s really been getting a lot of attention on the part of Federal Reserve Chair Janet Yellen and other members as of late, is what’s going on with wages and compensation.” This, says Kalish, “is where we really haven’t seen much of a pick up at this point,” despite four years of recovery.
Given the state of indicators regarding the quality of jobs and the tightness of the labor market, the Fed is unlikely to put the brakes on and raise interests before June of 2015 by Kalish’s estimate.
The federal government has released its per diem lodging rates for federal road warriors for the coming fiscal year.
Those rates matter to the hotel industry. After all, the American Hotel & Lodging Association says the government generates billions of dollars in travel spending.
The spending, however large, isn't changing — the standard federal travel per diem is staying flat compared to last year at $83. The federal government is also trying to keep its travel budget down, cutting spending by 30 percent through 2016.
“We do not include the luxury brands like the Ritz-Carltons or the Four Seasons types,” says Christine Harada, associate administrator of the Office of Government-wide Policy at the General Services Administration. “But we also want to be cognizant of our travelers' safety so we try not to go too, too budget.”
The rate is more flexible in many big cities. For example, it might run up to $300 a night in New York, depending on the time of booking. Regardless of location, fancy hotels are generally off limits.
Harada says lodging per diems are determined by market data. They're going up in about 270 areas and falling in 50.
Ryan Meliker, managing director of equity research at MLV & Co, an investment bank, says hotels that get a lot of business from feds will likely set their overall room rates based on the per diem.
“If you think about a hotel right next to a major Air Force base that's generating a lot of their business from government as a result of the Air Force base, it's going to have a bigger impact on them than it is somebody else,” he says.
Jan Freitag with STR, a hotel research company that provides market data to the federal government, says the federal per diems also have spillover effects at private companies.
“They say, 'Okay, if the U.S. government reimburses this much we just follow suit,’” Freitag says, “especially if they are a consulting company to the U.S. government.”
How much does a per diem get you?
How well can you travel on that federal government per diem? Or the similar one from your employer?
We compared Lawrence, Kansas — one of many small-to-mid-size cities covered by the standard per diem — to our home base, Los Angeles — which, like most larger cities has an adjusted per diem. We checked hotel rates for a single traveler in the first week of September and user-submitted cost-of-living estimates from Numbeo.com.
Per Diem: $83 for lodging, $46 for food and incidentals (the standard rate)
Lodging: That allowance gives you (or your boss) a few hotel options in Lawrence, but your best bet is the local Holiday Inn or Baymont Inn and Suites. They both run around $80 a night, and the Baymont touts a free breakfast. Hampton Inn and Comfort Inn are just out of reach at around $100 per night.
Food: A morning cappuccino (or other coffee beverage) will run you about $3 in Lawrence. A lunch averages about $6.25 for fast food and $10 for an inexpensive sit-down restaurant, like local favorite the Burger Stand. Dinner at a mid-range restaurant like the Free State brewery will run you about $20 per person. That leaves something like $15 for incidentals or midnight snacks. Not bad.
Los Angeles, California
Per Diem: $133 for lodging, $71 for food and incidentals
Lodging: If you're a federal employee travelling to LA, you'll get more money for a hotel, but expect to stay pretty far from downtown, the city's hot spot. A room runs around $130 per night at the Holiday or La Quinta Inns by LAX or the Marriott Courtyard in Pasadena. On Airbnb, there are some modest rooms available in Hollywood and Santa Monica for under $100, if your government employer is more the gitz or beach type.
Food: $71 is the most generous per diem the government offers for food and incidentals, and you can eat pretty well with it. A cappuccino in Los Angeles averages just under $4, and a lunch at Mendocino Farms or other restaurant will set you back about $12. A decent dinner out at Baco Mercat, Bottega Louie or other mid-range restaurant will run you about $26 per person. But don't blow that extra money on desserts, because the rest of your per diem could go toward transportation. You could get a cab or rent a car, but you'll be shelling out at least $20 a day.
Two dollar store chains are competing to buy a third, Family Dollar.
The retailer entertained an $8.5 billion merger deal with Dollar Tree last month, and Dollar General announced Monday it would pay a competitive $9.7 billion for the chain. While all of these discount stores are similar, they have several important differences.
Here's a look:
- Size: Biggest of the three.
- Products: A lot of brand names, a mix of food and discretionary items like clothing and beauty products.
- Placement in the Fortune 500: 164.
- Locations: More than 11,500 locations in more than 40 states. Primarily in smaller towns, located in the southern and eastern U.S., as well as the Midwest and the Southwest.
- Prices: About a fourth of their items are $1 or less.
- How are they doing? Chain is thriving with $17.5 billion in revenue and $5.4 billion in profits.
- Size: Smallest of the three.
- Products: Mostly imported from China, focused on discretionary items like party supplies, beauty products, etc.
- Placement in the Fortune 500: 342.
- Locations: More than 5,000 locations in 48 states, mostly located in strip malls in small towns.
- Prices: Most items cost $1 or less.
- How are they doing? The chain is thriving and growing with $7.8 billion in revenue and $2.7 billion in profits.
The target of the bids: Family Dollar
- Size: The takeover target, and second-largest of the three.
- Products: A lot of brand names; focuses on food, also carries some linens and other products.
- Placement in the Fortune 500: 271.
- Locations: More than 8,200 stores in 45 states, mainly in urban and rural areas.
- Prices: Most items are under $10.
- How are they doing? Family Dollar has been struggling and closing stores. It tried raising prices and the plan back-fired. It has recently been closing stores. They have about $10.3 billion in revenue and $3.5 billion in profits.
This is an observation, I guess, about the state of journalism today.
Gawker has published a spreadsheet prepared by Time Inc., which publishes Sports Illustrated, ranking a number of writers and editors on a scale from one to 10 on quality of writing, productivity, social media prowess, enthusiasm and whether the content they create is beneficial to the company's relationship with advertisers.
Think about that for a second.
A Time spokesperson said SI's editorial content is uncompromised.
Preservationists are worried about troves of records stored on what was once considered a durable medium: the compact disc. Many discs can last for centuries — but most won't.
Protests escalated Monday night as police tried to push back demonstrators who defied orders to disperse. Attorney General Eric Holders will travel to the Missouri city on Wednesday.
This third-largest wildfire in California's history struck the area near Yosemite National Park. Since then, controversy has broken out over whether to log the trees and replant seedlings.
While agreements with 10 more unions need to be reached by Tuesday night, the deal struck with two of the Met's major unions represents a major turning point in a bitter dispute.
The Yazidis are a small religious minority and have faced persecution again and again over the centuries. Some say it is now time to leave Iraq for good.
Dorian Johnson was with Michael Brown on the night that he was shot by police in Ferguson, Mo. Freeman Bosley, Johnson's attorney and a former mayor of St. Louis, speaks about the situation.
Requested by the family, a preliminary, independent autopsy has found that Michael Brown, an unarmed black teenager, was shot six times by a white police officer in Ferguson, Mo.
Women have been moving for their husbands' jobs for decades. But today, more men are following in their partners' footsteps — and grappling with the implications for their own careers.