Economics Roundtable

May 2014 Payroll Employment

After 76 months, we finally got back to the prerecession level of payroll employment.

Click on the image to get a bigger version.


The best summary of the state of our economy is the graph (below) of employment as a fraction of population for people over 16 years old. The decrease is large, but the most troubling feature of the graph is the flat trend .

Click on the image to get a bigger version.

Graph-of-the-Year Candidates

Donald Marron likes European interest rates. Click on the image to get a bigger version. Can you find three distinct subperiods?

Brad DeLong favors the U.S. gdp gap.

Remember M1?

Money Supply M1 growth is now over 20% per year over a 12 month lag. M1 growth has touched 20% before, but not with excess reserves of $1.6 trillion. Where is M1 headed?

Click on the chart for a larger version.


The Economics Roundtable is sponsored by EconModel.

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EconBrowser (James Hamilton)

"Analysis of current economic conditions and policy”

October 21, 2014, 11:03 am, 1354761

test test

October 21, 2014, 1:03 am, 1354451

Those are the topics covered in the West Coast Workshop on International Finance and Open Economy Macroeconomics, held October 17, 2014, and co-organized by Helen Popper (University of Santa Clara) and Michael Hutchison (UC Santa Cruz). The agenda is here (co-sponsored by USC, UCSC, Federal Reserve ...

October 20, 2014, 5:03 pm, 1354282

The Wisconsin Department of Workforce Development released without fanfare (well, there is no press release I see on the DWD media website as of 3pm CDT today) the last figures to be available before the election. They indicate September private nonfarm employment 108.6 thousands below the trend consistent with ...

October 19, 2014, 11:03 am, 1353663

Oil prices (along with prices of many other commodities) have fallen dramatically since last summer. Some observers are waiting to see if Saudi Arabia responds with significant cutbacks in production. I say, don’t hold your breath.

October 13, 2014, 1:03 pm, 1350230

In emerging and developing countries. That’s the title of a conference I’m attending.

October 12, 2014, 11:03 am, 1349784

For the last 3 years, European Brent has mostly traded in a range of $100-$120 with West Texas intermediate selling at a $5 to $20 discount. But in September Brent started moving below $100 and now stands at $90 a barrel, and the spread over U.S. domestic crude has ...

October 11, 2014, 1:03 am, 1349466

Or, not answering, as the case may be.

Here is the video; see the question asked about 16 minutes in.

The questioner has to re-ask his question a couple times because the Governor doesn’t answer the question whether he believes $7.25 is a living wage.

Note that the Governor never ...

October 9, 2014, 5:03 pm, 1348740

That’s the title to today’s article in Reuters. I’ve been surprised that the Russian economy has taken as much a hit as it has, partly in response to sanction and spillover effects onto confidence from those sanctions. I think the skeptics of the efficacy of sanctions for hitting the ...

October 8, 2014, 9:03 pm, 1348213

The answer is faster…so contra the arguments of the Wisconsin Restaurant Association, and Wisconsin Manufacturers Association, it seems unlikely that there are large negative employment impacts from minimum wage increases. Oh, also contra Sabia for the Employment Policies Institute (who has still not responded to my repeated requests ...

October 8, 2014, 1:03 am, 1347659

From Jason Stein in today’s Milwaukee Journal Sentinel:

The state law requires that Wisconsin’s minimum wage “shall not be less than a living wage.” …

A living wage is defined under the law as “reasonable comfort, reasonable physical well-being, decency and moral well-being.”

…”The department has determined that there is ...