The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

Frankfurt (AFP) – German unemployment registered a surprising rise in September, due to a scaling back of job creation schemes, official data showed on Tuesday.

The number of people registered as unemployed in Europe’s top economy rose by 25,000 in seasonally adjusted terms last month, the Federal Labor Office said in a statement, while analysts had been expecting a drop of around 5,000.

The unemployment rate — which measures the proportion of people out of work compared with working population as a whole — edged up to 6.9 percent in September from 6.8 percent in August in seasonally-adjusted terms, the Federal Labor Office said.

“This is due to less relief from labor market policy measures,” the office explained.

By contrast, in raw or unadjusted terms, the German jobless total fell by 96,760 people to 2.849 million and the unadjusted jobless rate declined to 6.6 percent from 6.8 percent, the office calculated.

“The labour market is in fundamentally good shape and is reacting little to the mixed economic data,” the office said.


Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Supreme Court of the United States

YouTube Screenshot

A new analysis is explaining the disturbing circumstances surrounding the overturning of Roe v. Wade and how the U.S. Supreme Court has morphed into an entity actively working toward authoritarianism.

In a new op-ed published by The Guardian, Jill Filipovic —author of the book, The H-Spot: The Feminist Pursuit of Happiness—offered an assessment of the message being sent with the Supreme Court's rollback of the 1973 landmark ruling.

Keep reading... Show less


YouTube Screenshot

After a year of reporting on the tax machinations of the ultrawealthy, ProPublica spotlights the top tax-avoidance techniques that provide massive benefits to billionaires.

Last June, drawing on the largest trove of confidential American tax data that’s ever been obtained, ProPublica launched a series of stories documenting the key ways the ultrawealthy avoid taxes, strategies that are largely unavailable to most taxpayers. To mark the first anniversary of the launch, we decided to assemble a quick summary of the techniques — all of which can generate tax savings on a massive scale — revealed in the series.

1. The Ultra Wealth Effect

Our first story unraveled how billionaires like Elon Musk, Warren Buffett and Jeff Bezos were able to amass some of the largest fortunes in history while paying remarkably little tax relative to their immense wealth. They did it in part by avoiding selling off their vast holdings of stock. The U.S. system taxes income. Selling stock generates income, so they avoid income as the system defines it. Meanwhile, billionaires can tap into their wealth by borrowing against it. And borrowing isn’t taxable. (Buffett said he followed the law and preferred that his wealth go to charity; the others didn’t comment beyond a “?” from Musk.)

Keep reading... Show less
{{ }}