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Apr 11, 2010

American Banking News : Feedburner e-mail suscription, April 11th, 2010



We have received the following information  today from  AMERICAN BANKING NEWS

Forbes: Latest Stories, " To: President Hu. From: Tom, Re: China 3.0.", April 11th 2010



Latest Stories

To: President Hu,
From: Tom, Re: China 3.0

To: President Hu, <br>From: Tom, Re: China 3.0
Imagining Tom Friedman's memo to Hu Jintao.
Read More Read More

More than Cherry Trees Blossoming in Japan

More than Cherry Trees Blossoming in Japan
Japan Inc. can't play a waiting game.
Read More Read More

Road To Riches

Road To Riches
Billionaire Jaiprakash Gaur is building India's longest toll roads and plans sprawling townships.
Read More Read More

Taking A Smarter Route

Taking A Smarter Route
Singapore upstart Pteris takes on big boys in the rough-and-tumble world of building airport baggage systems
Read More Read More

America Blinks Again

America Blinks Again
It's in the national interest to call out China for currency manipulation. No more pulling punches.
Read More Read More
Click for updates: forbes.com/asia


Economist's View: "What's Up With Young Folks?" , April 11, 2010

Apr 11, 2010

"What's Up With the Young Folks?"

What explains declining labor force participation of teens over the last decade? Any ideas beyond those given below?:
What's up with the young folks?, by John Robertson, macroblog: ...One important element in interpreting unemployment data is the trend in labor force participation, and it appears as if there are some significant open questions about what the trend looks like.

After growing during the 1980s and 1990s, the aggregate labor force participation rate (the percentage of the working-age population active in the labor market employed or looking for work) peaked in the late 1990s and is currently at levels last seen in the 1980s. But this change pales in comparison to changes in labor force participation among America's youth (those folks in the 16- to 24-year-old age range).
During the 1980s participation in the labor market for youth averaged around 68 percent, a rate noticeably higher than for older individuals. The youth participation rate declined sharply to a level at or below the level for older individuals prior to the 1990–91 recession and then remained relatively stable during the 1990s. However, over the past decade youth labor market participation has been on a steep downward trend and currently stands at a little over 55 percent, compared with about 67 percent for older individuals. Moreover, the most recent recession has seen youth participation rates decline at a rate similar to that seen in the early 2000s. In contrast, the labor force participation by individuals over 24 years of age has varied much less, implying that the decline in youth labor force participation has been a major contributor to the reduction in the overall rate of labor force participation (see the above chart).
It also appears that the decline in youth participation is most dramatic among teenagers, and for that group it is an equally sized decline for both males and females (see the next two charts).

Because schooling is an important activity for young people, the changing pattern of school enrollment is an obvious potential source of change in the labor force attachment of youths. In fact, the proportion of those between 16 and 24 enrolled in school has risen from about 42 percent in the late 1980s to nearly 57 percent in 2008 (BLS, October supplement to the Current Population Survey).
But being in school does not preclude labor market participation. In fact, increasing school enrollment is unlikely to be the only explanation because the increase in the school enrollment rate this decade is less than last decade. Between 1989 and 1998 enrollment increased from 48 percent to 54 percent whereas it increased from 54 percent to 57 percent between 1999 and 2008.
The big change appears to be that those in school have become increasingly less attached to the labor market. The percentage of school enrollees aged between 16 and 24 who are also participating in the labor market was relatively stable between 1989 and 1998 at around 51 percent. However, labor market participation by those in school declined between 1999 and 2008 from 50 percent to 42 percent. In contrast, labor force participation by those aged between 16 and 24 not enrolled in school has declined only modestly—from 82 percent to 80 percent between 1989 and 2008.
There are economic returns (benefits less costs) to both labor market experience and education. The decreased attachment to the labor market of school enrollees likely reflects, at least in part, factors such as the increased lifetime economic returns to education relative to alternative uses of time. As such, a widening wage premium on education is probably an important influence on youths' schooling choices, including schooling intensity. An example would be enrolling in educational programs during the summer instead of looking for summer employment.
It would be good news if increasing long-term rewards to engaging intensively in schooling was the important factor underlying the declining labor force participation by America's youth. Some alternative explanations for the decline could be much more troubling for America's future.
[Traveling home from the UK today - automatic post.]

The Washington Post: Today's Highlights, April 11th, 2010



TODAY'S HIGHLIGHTS
A growing force in Turkey: skeptics
ISTANBUL -- Since the Turkish republic's founding 87 years ago, the military has stood as unquestioned guardian of secular democracy, intervening when it deemed necessary to keep religion out of politics in this overwhelmingly Muslim nation.
(By Janine Zacharia, The Washington Post)

Obama leads summit's nuclear security efforts
'THIS IS TRULY A GLOBAL ISSUE'
Challenge is in persuading others

(By Scott Wilson and Mary Beth Sheridan, The Washington Post)

Steele urges GOP to not let errors be distractions
Chairman calls for party members to focus on return to power
(By Amy Gardner, The Washington Post)

Lack of PR strategy on scandal mystifies pope's U.S. defenders
(By Michelle Boorstein, The Washington Post)

More Today's Highlights

POLITICS
For liberals, replacing the irreplaceable justice
In nearly 35 years on the Supreme Court, Justice John Paul Stevens went from idiosyncratic maverick to the leader of the court's liberal wing. He always described it as the court's evolution more than his own -- almost all of his colleagues, he said, had been replaced by a justice with more conse...
(By Robert Barnes, The Washington Post)

For GOP activists and hopefuls, no time like the present
(By Dan Balz, The Washington Post)

Talk Shows
(The Washington Post)

Obama slip breaks years of president-press tradition
(By associated press, The Washington Post)

Steele urges GOP to not let errors be distractions
Chairman calls for party members to focus on return to power
(By Amy Gardner, The Washington Post)

More Politics

NATION
For liberals, replacing the irreplaceable justice
In nearly 35 years on the Supreme Court, Justice John Paul Stevens went from idiosyncratic maverick to the leader of the court's liberal wing. He always described it as the court's evolution more than his own -- almost all of his colleagues, he said, had been replaced by a justice with more conse...
(By Robert Barnes, The Washington Post)

Lack of PR strategy on scandal mystifies pope's U.S. defenders
(By Michelle Boorstein, The Washington Post)

The 'Old Man Crew' held tight in the mine
Day shift ended in darkness for longtime friends
(By David A. Fahrenthold, The Washington Post)

Obama slip breaks years of president-press tradition
(By associated press, The Washington Post)

Some Hispanics wavering on Obama
Support in 2008 turns to concern over little action on immigration
(By Sandhya Somashekhar, The Washington Post)

More Nation

WORLD
A growing force in Turkey: skeptics
ISTANBUL -- Since the Turkish republic's founding 87 years ago, the military has stood as unquestioned guardian of secular democracy, intervening when it deemed necessary to keep religion out of politics in this overwhelmingly Muslim nation.
(By Janine Zacharia, The Washington Post)

Poland mourns deaths of leaders in plane crash
PRESIDENT AMONG VICTIMS
Losses devastate ranks of political, military elite

(By Edward Cody and Peter Finn, The Washington Post)

Poland mourns deaths of leaders in plane crash
PRESIDENT AMONG VICTIMS
Losses devastate ranks of political, military elite

(By Edward Cody and Peter Finn, The Washington Post)

Nation Digest
(The Washington Post)

Earthquake complicated U.S. removal of nuclear material from Chile
(By David E. Hoffman, The Washington Post)

More World

METRO
Woman killed, man injured in shootings in Prince George's County
A 32-year-old woman was shot and killed early Saturday in a parking lot in the Suitland area, Prince George's County police said.
(The Washington Post)

Va. woman dies after being hit by a car
Nursing student was struck last week outside GWU Hospital
(By Martin Weil, The Washington Post)

Local Digest
(The Washington Post)

LOTTERIES
April 10
(The Washington Post)

Witnesses describe beating at pizza shop
Pr. George's police say man resisted, seemed impaired
(By Ruben Castaneda, The Washington Post)

More Metro

BUSINESS
From rot to riches in Prince George's
The house on 29th Street in Mount Rainier is a shambles. Mold and mildew cover the walls. The carpet reeks of urine. A chandelier in the dining room and dingy white curtains in the windows are the only reminders that the house was once a home.
(By Ovetta Wiggins, The Washington Post)

The iPad may just revolutionize medicine
(By Martha C. White, The Washington Post)

You ask, 'Where's my refund?' We ask, 'Why is it so big?'
(By Cameron Huddleston, The Washington Post)

It's a home, not an ATM
(By Michelle Singletary, The Washington Post)

For young Japanese, U.S. degrees lose lure
Students content to stay home, citing cultural, financial advantages
(By Blaine Harden, The Washington Post)

More Business