Links 5 May 2014

North America:

• April Employment Report: 288,000 Jobs, 6.3% Unemployment Rate – Calculated Risk
• Jobs Growth in April Was Even Better than the BLS Numbers Say – Brookings
• How Not to Be Misled by the Jobs Report – New York Times
• What Happens To The Unemp. Rate If You Add Back Labor Force Dropouts? – The Federalist
• Workforce Participation at 36-Year Low as Jobs Climb – Bloomberg
• Why America’s Essentials Are Getting More Expensive While Its Toys Are Getting Cheap – The Atlantic
• 4 ways to stop the U.S. from becoming a Piketty-style oligarchy – Washington Post

Europe:

• Our manifesto for Europe – The Guardian
• Corporate Germany lobbies for a halt on Russian sanctions – Wall Street Journal
• Hedge Funds Replace Banks as Europe Property Lenders – Bloomberg

Asia:

• Chinese anatomy of a property boom on its last legs – The Telegraph
• Junket figure’s disappearance shakes Macau’s gambling industry – Wall Street Journal
• How Canada’s Flirtation with a China Oil Market Soured – Bloomberg

Local:

• The Budget crunch is John Howard’s baby too – The AFR
• Deficit tax plus Budget cuts may hurt economy – The AFR
• Infrastructure silver bullet is a myth – The AFR
• Hockey announces automated tax returns – The AFR
• Pyne flags Budget hit for uni students – The AFR
• $110,000 hit for rideshare drivers – The AFR
• States won’t be allowed income tax – The AFR
• Liberal base angry over Debt tax – The Australian
• Major fail a win for minor parties – The Australian
• Pyne seeks end to corporate, union donations – The Australian
• Youth will have to “earn or learn” – The Australian
• Boomers know all about “tough times” – The Australian
• What Joe isn’t telling us about the Budget – Canberra Times
• Public service job cuts looking shakier – Canberra Times
• What we talk about when we talk about tax – Business Spectator
• A more expensive cop-out – Business Spectator
• Coalition deflects Budget criticism and plunge in poll – The Guardian

Other:

• Why Economics Failed – New York Times
• The Uncomfortable Reason Your Home Is Not a Great Investment – The Fool
• Are butter, cheese and steak really bad for you? The history of the anti-fat crusade – Wall Street Journal