INFLATION IN CHINA LIKELY TO INCREASE INFLATION IN U.S.

For years Americans have come to rely on inexpensive imports from China, and China has happily delivered. Inflation, long tame in China, is roaring again and American consumers can expect to pay higher prices for Chinese imported goods this year.

From The New York Times:

American consumers could see prices increase by as much as 10 percent this year on specific products — including toys, clothing, footwear and other consumer goods — just as the United States faces a possible recession.

In the longer term, higher costs in China could spell the end of an era of ultra-cheap goods, as well as the beginning of China’s rise from the lowest rungs of global manufacturing.

Chinese imports constitute 7.5 percent of spending by Americans on consumer goods, but they make up much bigger shares of several popular categories, including about 80 percent of toys, 85 percent of footwear, and 40 percent of clothing.

While no reliable figures exist on average Chinese wages, experts say that factory wages have risen 80 percent or more in many coastal areas in recent years, with the lowest wage about $125 a month.

To reduce costs, some factory owners are considering moving to inland China, where wages are lower, or to other parts of Asia, like Vietnam and Indonesia.

SURVEY REVEALS MOST SATISFYING CAREERS

From LiveScience at Yahoo!:

Firefighters, the clergy and others with professional jobs that involve helping or serving people are more satisfied with their work and overall are happier than those in other professions, according to results from a national survey.

“The most satisfying jobs are mostly professions, especially those involving caring for, teaching and protecting others and creative pursuits,” said Tom Smith, director of the General Social Survey (GSS) at the National Opinion Research Center at the University of Chicago.

The 2006 General Social Survey is based on interviews with randomly selected people who collectively represent a cross section of Americans. In the current study, interviewers asked more than 27,000 people questions about job satisfaction and general happiness. Individuals' level of contentment affects their overall sense of happiness, Smith said.

Here are the Top 10 most gratifying jobs and the percentage of subjects who said they were very satisfied with the job:

Clergy—87 percent percent
Firefighters—80 percent percent
Physical therapists—78 percent percent
Authors—74 percent
Special education teachers—70 percent
Teachers—69 percent
Education administrators—68 percent
Painters and sculptors—67 percent
Psychologists—67 percent
Security and financial services salespersons—65 percent
Operating engineers—64 percent
Office supervisors—61 percent

Here are the 10 least gratifying jobs, where few participants reported being very satisfied:

Laborers, except construction—21 percent
Apparel clothing salespersons—24 percent
Handpackers and packagers—24 percent
Food preparers—24 percent
Roofers—25 percent
Cashiers—25 percent
Furniture and home-furnishing salespersons—25 percent
Bartenders—26 percent
Freight, stock and material handlers—26 percent
Waiters and servers—27 percent