The problem with the labor market isn’t that the unemployed aren’t looking for work — it’s that employers aren’t looking very hard for workers.
The more broadly you read about a specific issue, the better your understanding becomes of that issue.
Management
Aviva Update – 07.05.2012
Aviva Plc, the U.K.’s second-biggest insurer by market value, plans to exit almost a third of its units to bolster capital reserves and limit the impact of further turmoil in the euro region.
The insurer plans to sell 16 non-core divisions including U.K. bulk-purchase annuities, its South Korean unit and some partnerships in Italy, the London-based firm said in a statement today. The company is aiming to bring its capital levels in line with other insurers to between 160 percent and 170 percent of reserves required by regulators from 140 percent today.
via Aviva to Exit a Third of Business as Insurer Boosts Capital – Insurance Networking News.
Why Good People Can’t Find Jobs – Part 2
The sad truth is that it’s costly and risky to hire anyone to do anything, and “bankable projects” that might generate profit/require more labor are few and far between. The overhead costs for employees have skyrocketed. So even though the wages employees see on their paychecks have stagnated, the total compensation costs the employer pays have risen substantially.
via charles hugh smith-Dear Person Seeking a Job: Why I Can’t Hire You.
Go read this article. There are quite a few insightful observations.
Insurance Agents Lose Job Security With Obamacare Ruling – Forbes
Full Text of US Supreme Court Decision on ObamaCare – PDF with Highlights
PPACA Decision: The PDF, with Interesting Parts Highlighted | LifeHealthPro.
Same PDF of the decision but with highlighted sections. The highlights help. The article also has a list of where to find issues of special interest, which is also very helpful.
Full Text of US Supreme Court Decision on ObamaCare
Full text of US Supreme Court decision on health care laws – Open Channel.
HT – Mike Shedlock / Mish
Pass The Trash Please
This story is important because it is happening again today. Money Center banks are reducing their holdings of risky loans. The regional banks are increasing exposure.
via Bruce Krasting: Passing The Trash – Again.
Faithful readers know I have a penchant for following world-wide economic events. Please enjoy this article.
Why Good People Can’t Find Jobs
A Manpower survey asks employers if they’re having trouble finding people to hire. In that survey, about 11 percent say they can’t get people to accept jobs at the wages they’re paying. So 11 percent are saying we’re not paying enough. The real number is probably double that. We’re not very good at identifying problems we create ourselves. If they’re not finding [employees], don’t call it a skills gap; don’t call it a skills mismatch – you’re just being cheap
Scary Chart of the Day – 06.24.2012
I am part of the green line. Click through below for an excellent analysis.
NatWest Open Sunday – IT Fail Causes Chaos
NatWest is battling to get on top of a huge backlog of failed payments after a software upgrade on Tuesday night went wrong, resulting in the bank being unable to process payments for its personal and business customers.
via NatWest opens on Sunday as IT glitch causes chaos | Reuters.
In a prior life, I ran information technology operations for two different insurance companies. I changed my professional focus because the stress and pressure of maintaining 100% up-time in a 24/7 environment as my budgets were continuously cut was stupid. Software upgrades should not, I repeat, NOT take down your entire business operations. But in this case it did.
On Monday go give your IT person a BIG HUG. She/he deserves it.
lifeunderwriter.net 
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