US adds 223,000 jobs in April as unemployment falls to seven-year low

US unemployment has fallen to its lowest since 2008 after the economy added 223,000 jobs in April taking the unemployment rate down to 5.4% – close to the rate the Federal Reserve considers to be effective full employment.

The jobless rate fell from 5.5% to 5.4% the lowest since May 2008 – before the financial crisis struck – in a signal that companies are confident about the strength of the US economy.

The Labor Department said 223,000 people joined the workforce in April, slightly lower than expectations of 225,000 but much higher than the 85,000 job gain in March – which was the smallest increase since June 2012.

The new figures take the number of US jobs added over the last 12 months to 3m. However, average hourly wages only grew by only 3% in April, taking year-on-year gains to 2.2%.

The drop in the unemployment rate takes it close to the 5.0-5.2% range that Federal Reserve officials consider to be consistent with full employment, and raises the prospect that the Fed may increase interest rates later this year. The US central bank has kept interest rates near zero since December 2008.

Fed officials, who in March dropped a promise to be “patient” about raising rates, meet next to consider raising rates on June 16-17 but most experts expect rates to be held until later in the the year.

Market Web Site Statistics

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http://www.statista.com/
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The Growth of Maritime Cargo Shipping Industry World Wide

CSCL (China Shipping Container Lines Co.Ltd) Globe, the world’s largest container vessel, held a grand maiden voyage ceremony in Singapore on Thursday.

The CSCL Globe, which is 400 meters long and 60 meters wide, is the first of the five sister ships built by the Republic of Korea’ s Hyundai Heavy Industries for CSCL.

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In 2017, total seaborne trade will be over 10 billion metric tons, the number of containers shipped will reach 150 million annually and $592 billion worth of cars will make their way across the oceans.

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 Tankers, bulk carriers and container ships are the most important means of transportation of our time. Each year they carry billions of tonnes of goods along a few principal trade routes. Containerization has revolutionized global cargo shipping, bringing vast improvements in efficiency. The maritime boom could continue, despite the economic crisis.

Throughout history the oceans have been important to people around the world as a means of transportation. Unlike a few decades ago, however, ships are now carrying goods rather than people. Since the rise of intercontinental air travel, sea travel has become limited to shorter trips (ferry services across the Baltic and North Seas, the Mediterranean, Japan and Southeast Asia) and recreational cruises. The latter have recently experienced a tremendous boom and represent an increasingly lucrative source of tourist income.

As markets became increasingly globalized, shipping volumes soared. From the 1950s to the latest global economic crisis, the growth rate of international trade was almost consistently twice that of economic activity as a whole. From 2000 to 2008 world trade increased by an average 5.4 per cent each year, while economic activity, as measured by the global Gross Domestic Product (GDP), increased by only 3 per cent per annum. Due to the spectacular rise of trade vis-à-vis economic growth, world trade since the 1950s has more than trebled to 45 per cent of the global GDP, while goods destined for the processing industry have in fact more than quadrupled.

With respect to the value of the goods, about 23 per cent of world trade is between countries with a common border. This percentage has remained fairly constant over recent decades. Between continents, however, it differs a great deal depending on their level of development. In Europe and North America the proportion is the highest at 25 to 35 per cent. This trade is predominantly transacted by road and rail. Cargo between countries without a common border is carried mainly by sea, although increasing quantities of manufactured goods are being forwarded by air. Growth rates for air freight are more than double those for shipping in recent years. Which mode of transport handles how much cargo depends on the (relative) transportation costs and the value-to-weight ratio of the goods – the higher the value per unit of weight, the less significant the cost of transportation. Punctuality and reliability are considered more important for valuable commodities.

According to research by economists, higher-income households purchase higher-quality products. The residents of wealthy countries therefore tend to buy more quality goods. Accordingly, rising incomes influence the demand for transport in three ways. First, quality goods are more expensive. Their value-to-weight ratio is therefore higher and the cost of transporting them is lower compared to their value. Second, as incomes rise, consumers are more likely to purchase certain expensive products and fancy goods. At the same time they expect to receive the articles within a very short time. Third, the delivery period itself is a key element of product quality, having an increasing influence on purchasing decisions; customers are no longer prepared to tolerate long delays. All of these factors have contributed to the even higher growth rates of air freight in comparison to shipping.

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http://worldoceanreview.com/en/wor-1/transport/global-shipping/
http://www.statista.com/statistics/253987/international-seaborne-trade-carried-by-containers/
http://www.worldshipping.org/benefits-of-liner-shipping/global-economic-engine

International Maritime Organization

The International Maritime Organization (IMO) is a specialized agency of the United Nations with 167 Member States. Its main role has been to develop and maintain a consistent regulatory framework for international shipping with particular focus on the areas of safety, security, environment and technical co-operation. To learn more about the IMO, visit www.imo.org.

http://www.drewry.co.uk/publications/view_publication.php?id=312

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http://www.statista.com/

Shower

The Entitlement Society Rhetoric

Contrary to "Entitlement Society" Rhetoric, Over Nine-Tenths of Entitlement Benefits Go to Elderly, Disabled, or Working Households

http://www.cbpp.org/cms/?fa=view&id=3677

http://www.cbpp.org/

Any thing research web site

http://www.anythingresearch.com/industry/