THE EMPLOYMENT SITUATION -- JANUARY 2014

Total nonfarm payroll employment rose by 113,000 in January, and the unemployment rate was little changed at 6.6 percent, the U.S. Bureau of Labor Statistics reported today.

Employment grew in construction, manufacturing, wholesale trade, and mining.

Changes to the Employment Situation Data

Establishment survey data have been revised as a result of the annual benchmarking process and the updating of seasonal adjustment factors. Also, household survey data for January 2014 reflect updated population estimates. See the notes at the end of this release for more information about these changes.

Ex-SAC trader points to Cohen testimony in insider trading case

A former SAC Capital Advisors trader, Mathew Martoma, is set to go on trial next month on insider trading charges, wants to cite in court some 2012 testimony given by the hedge fund's founder Steven Cohen, claiming it rebuts the government's case.

Banks need to take on Amazon and Google or die

Some bankers and analysts think that Google, Facebook, Amazon or the like will not fully enter a highly regulated, low-margin business such as banking. I disagree. 

What is more, I think banks that are not prepared for such new competitors face certain death.

Technology has already transformed many industries. Next in line is banking. In two or three years, only 5 per cent of consumer interaction will be through branches.

The rules have changed and a new league of competitors is emerging.

Continue reading in the FT

Banks need to take on Amazon and Google or die

+Bob DeMarco

THE EMPLOYMENT SITUATION -- NOVEMBER 2013

The unemployment rate declined from 7.3 percent to 7.0 percent in November, and total nonfarm payroll employment rose by 203,000, the U.S. Bureau of Labor Statistics reported today. 

Employment increased in transportation and warehousing, health care, and manufacturing.