Thread: 88 million out of work and not looking for a job

88 million out of work and not looking for a job

San Francisco Chronicle
Thursday, February 9, 2012

Number of the day

88 million

That's how many working-age Americans don't have a job and aren't trying to find one. The increase in people dropping out of the labor market altogether skews the otherwise-positive unemployment numbers released last week. While the jobless rate fell to 8.3 percent in January - a three-year low - it doesn't account for this army of nonworking Americans.

The percentage of people participating in the labor market dropped to 63.7 percent last month, the lowest level since May 1983.

Hear here

"I don't know whether dictatorship is the right word, but it more or less defies every vestige of shareholder democracy known to man."

Larry Haverty, a portfolio manager at Gamco Investors, on Facebook's corporate-governance structure. CEO Mark Zuckerberg controls 56.9 percent of voting power at Facebook, and he has the right to appoint his own successor - a "disquieting factor," Haverty says. "I don't think it's how business should be run." Corporate-governance experts and the California State Teachers' Retirement System also have raised concerns about the social-networking company's policies.

Heads up

LinkedIn releases fourth-quarter financial results today, and the professional-networking website is expected to post a net loss of about $779,000, less than in the previous quarter. Sales may rise to $159.8 million. This is only the third time the Mountain View company has reported results since going public in May. The stock has been a roller-coaster ride for investors, though it's still way up from its initial public offering price of $45.
This article appeared on page D - 1 of the San Francisco Chronicle

88 million out of work and not looking for a job