Viernes 01/04/11 Situacion del empleo, ventas de autos

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El petroleo es la sombra negra del dia.

Yields up 3.49

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El Peru sube los requerimientos de reserva de sus bancos para combatir la inflacion. La medida que toma efecto hoy dia sube la reserva en 50 puntos basicos. El requerimiento de reservas era del 12.4% para soles y 37% para dolares en Febrero.

Peru Boosts Reserve Requirements For Third Month to Cool Surging Inflation
By John Quigley - Apr 1, 2011 8:50 AM ET
Peru’s central bank raised banks’ reserve requirements for a third straight month after higher food prices drove the monthly inflation rate to a 33-month high in March.

Policy makers increased the average reserve requirement by a half-point, after quarter-point rises in February and March, the central bank said yesterday. The measure, which takes effect today, is designed to contain inflation expectations amid rising wheat, corn and crude oil prices, the bank said.

Higher international grain prices coupled with an expansive fiscal policy have increased pressure on the central bank to tighten the money supply to rein in economic growth running at an annual rate of 10 percent, said Juan Carlos Odar, an analyst at Banco de Credito del Peru, the country’s biggest bank.

Peruvian banks’ average reserve requirement was 12.4 percent for soles and 37 percent for dollars in February, according to central bank data.

“They’re increasing reserve requirements more aggressively” to keep inflation under control, Odar said in a telephone interview from Lima. “The central bank may need to keep tightening because fiscal policy remains expansive.”

Consumer prices rose 0.7 percent last month, the steepest rise since June 2008, the national statistics agency said today. Economists expected a 0.48 percent gain, according the median estimate of 13 analysts surveyed by Bloomberg. The agency reports annual inflation after 11:00 a.m. New York time.

The annual rate, which rose to a five-month high of 2.2 percent in February, will probably be about 3 percent this year, the ceiling of the target range, central bank President Julio Velarde told reporters yesterday.

‘Lax’ Fiscal Policy
Peru’s economy is in danger of overheating because of a “lax” fiscal policy that may force the central bank to raise rates to 5.5 percent this year, Morgan Stanley said last week.

The government cut the sales tax last month and froze fuel prices following rises in international grain and crude oil prices. Peru is a net importer of crude oil, soybeans, corn and wheat.

The central bank will probably increase its benchmark rate for the ninth time in 12 meetings on April 7, increasing the benchmark rate by a quarter-point to 4 percent, according to six analysts in a Bloomberg survey. One economist expects the bank to pause at 3.75 percent.

“These adjustments in monetary policy are aimed at preventing increases in international food and energy prices from rising inflation expectations in a context of strong growth in domestic demand,” the central bank said in an e-mailed statement yesterday.

Policy makers will continue to use monetary instruments to allow high, sustainable economic growth rates without sparking demand-led inflation pressures, it said.

Higher international corn prices fuelled rises in the cost of chicken last month, said Hugo Perea, chief economist at BBVA Banco Continental, the country’s second largest bank. Domestic vegetable prices rose because of increased rainfall in the Peruvian Andes damaged crops and blocked roads, Perea said in a telephone interview from Lima.

The nation’s consumer price index is the second-most exposed to food inflation among emerging markets, after the Philippines, according to the central bank. Food and drink costs account for 38 percent of the index.

To contact the reporter on this story: John Quigley in Lima at jquigley8@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at

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+72

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Copper April 01,08:59
Bid/Ask 4.2644 - 4.2672
Change -0.0313 -0.73%
Low/High 4.2275 - 4.2986
Charts

Nickel April 01,08:59
Bid/Ask 11.6446 - 11.6596
Change -0.2194 -1.85%
Low/High 11.5597 - 11.9203
Charts

Aluminum April 01,08:59
Bid/Ask 1.1659 - 1.1661
Change -0.0086 -0.73%
Low/High 1.1613 - 1.1781
Charts

Zinc April 01,08:59
Bid/Ask 1.0617 - 1.0624
Change -0.0012 -0.11%
Low/High 1.0508 - 1.0659
Charts

Lead April 01,08:59
Bid/Ask 1.2452 - 1.2464
Change -0.0006 -0.05%
Low/High 1.2211 - 1.2495

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Terrible estadistica, para tirarle una bomba al gobierno

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Nos hemos convertido en una nacion que ya no produce

Mas Americanos trabajan para el gobierno que para la manufactura, agricultura, pesca, mineria y servicios de electricidad, agua, etc combinado.

Si quieren entender mejor por que muchos estados desde New York a Wisconsin y California estan al borde la bancarrota, consideren una estadistica que causa depresion: Hoy dia en America hay el doble de gente trabajando para el gobierno 22.5 millones que en toda la industria manufacturera 11.5 millones. Esto es exactamente lo contrario a lo que era en 1960, cuando habian 15 millones de trabajadores en la industria manufacturera y 8.7 millones en el gobierno.

Y empeora. Mas americanos trabajan para el gobierno que en construccion, agricultura, manufactura, mineria, forestry y utilities combinado. Casi todos slo $2.2 trillones del costo de los estados y los gobiernos locales es el $1 trillon en pagos y beneficios para ls empleados del gobierno. Alli esta la explicacion, por que tantos estados y ciudades no pueden pagar sus deudas.

Excepto por Indiana y Wisconsin, hay mas trabajadores en el gobierno que en manufactura. California sola tiene 2.4 millones de empleados publicos, el doble de los trabajadores en manufactura.

Nebraska y Iowa, estados agricultores tienen cinco veces mas de empleados publicos que en la agricultura.


West Virginia, la capital minera del mundo, tiene tres veces mas trabajadores en el gobierno que en la mineria. New York es la capital financiera del mundo y tiene 670,000 trabajadores, lo cual es un poco menos de la mitad de los 1.48 millones de empleados del gobierno.

Un agricultor tipico produce tres veces mas de lo que producia en 1950. En el sector publico, por ejemplo en la educacion, el gasto por estudiantes ajustado a la inflacion se ha duplicado y se han contratado el doble de profesores por estudiante. Lo que en economia se llama productividad negativa.



We've Become a Nation of Takers, Not Makers
More Americans work for the government than in manufacturing, farming, fishing, forestry, mining and utilities combined

By STEPHEN MOORE
If you want to understand better why so many states—from New York to Wisconsin to California—are teetering on the brink of bankruptcy, consider this depressing statistic: Today in America there are nearly twice as many people working for the government (22.5 million) than in all of manufacturing (11.5 million). This is an almost exact reversal of the situation in 1960, when there were 15 million workers in manufacturing and 8.7 million collecting a paycheck from the government.

It gets worse. More Americans work for the government than work in construction, farming, fishing, forestry, manufacturing, mining and utilities combined. We have moved decisively from a nation of makers to a nation of takers. Nearly half of the $2.2 trillion cost of state and local governments is the $1 trillion-a-year tab for pay and benefits of state and local employees. Is it any wonder that so many states and cities cannot pay their bills?

Every state in America today except for two—Indiana and Wisconsin—has more government workers on the payroll than people manufacturing industrial goods. Consider California, which has the highest budget deficit in the history of the states. The not-so Golden State now has an incredible 2.4 million government employees—twice as many as people at work in manufacturing. New Jersey has just under two-and-a-half as many government employees as manufacturers. Florida's ratio is more than 3 to 1. So is New York's.

Even Michigan, at one time the auto capital of the world, and Pennsylvania, once the steel capital, have more government bureaucrats than people making things. The leaders in government hiring are Wyoming and New Mexico, which have hired more than six government workers for every manufacturing worker.

Now it is certainly true that many states have not typically been home to traditional manufacturing operations. Iowa and Nebraska are farm states, for example. But in those states, there are at least five times more government workers than farmers. West Virginia is the mining capital of the world, yet it has at least three times more government workers than miners. New York is the financial capital of the world—at least for now. That sector employs roughly 670,000 New Yorkers. That's less than half of the state's 1.48 million government employees.

Don't expect a reversal of this trend anytime soon. Surveys of college graduates are finding that more and more of our top minds want to work for the government. Why? Because in recent years only government agencies have been hiring, and because the offer of near lifetime security is highly valued in these times of economic turbulence. When 23-year-olds aren't willing to take career risks, we have a real problem on our hands. Sadly, we could end up with a generation of Americans who want to work at the Department of Motor Vehicles.

The employment trends described here are explained in part by hugely beneficial productivity improvements in such traditional industries as farming, manufacturing, financial services and telecommunications. These produce far more output per worker than in the past. The typical farmer, for example, is today at least three times more productive than in 1950.

Where are the productivity gains in government? Consider a core function of state and local governments: schools. Over the period 1970-2005, school spending per pupil, adjusted for inflation, doubled, while standardized achievement test scores were flat. Over roughly that same time period, public-school employment doubled per student, according to a study by researchers at the University of Washington. That is what economists call negative productivity.

But education is an industry where we measure performance backwards: We gauge school performance not by outputs, but by inputs. If quality falls, we say we didn't pay teachers enough or we need smaller class sizes or newer schools. If education had undergone the same productivity revolution that manufacturing has, we would have half as many educators, smaller school budgets, and higher graduation rates and test scores.

The same is true of almost all other government services. Mass transit spends more and more every year and yet a much smaller share of Americans use trains and buses today than in past decades. One way that private companies spur productivity is by firing underperforming employees and rewarding excellence. In government employment, tenure for teachers and near lifetime employment for other civil servants shields workers from this basic system of reward and punishment. It is a system that breeds mediocrity, which is what we've gotten.

Most reasonable steps to restrain public-sector employment costs are smothered by the unions. Study after study has shown that states and cities could shave 20% to 40% off the cost of many services—fire fighting, public transportation, garbage collection, administrative functions, even prison operations—through competitive contracting to private providers. But unions have blocked many of those efforts. Public employees maintain that they are underpaid relative to equally qualified private-sector workers, yet they are deathly afraid of competitive bidding for government services.

President Obama says we have to retool our economy to "win the future." The only way to do that is to grow the economy that makes things, not the sector that takes things.

Mr. Moore is senior economics writer for The Wall Street Journal editorial page.

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+47.61

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BVN -0.84%

+54.99

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El indice del dolar al alza en 0.65%

Oil up 106.91

+52.07

Euro down 1.4110

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BP +2.65%

VIX down 16.76

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Au down 1,423.10

+50.75

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MMR +2.48%

+51.24

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BP +2.76%

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BVN -2.70%

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+45.79

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BVN -3.14%

+42.46