September Payroll Employment
We are still 2% off the previous peak in jobs.
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 .
Focus on the Problem
U.S. payroll employment peaked at 132.5 million jobs in February 2001. For April 2012, U.S. payroll employment had reached 133.0 million jobs, marking the third month in a row above the February 2001 level.
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.
Looking Up At 2001
In February 2001, U.S. payroll employment peaked at 132.5 million. The November 2011 figure of 131.7 million still falls 800,000 jobs short of the earlier peak.
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?
The Economics Roundtable is sponsored by EconModel.
The Classic Economic Models cover micro, macro, and financial markets.
"A Cross-Disciplinary Conversation”
Via Brad DeLong who says, "This is, I think, very good work--and the worst news about the human future I have learned in months." :
Tired of being told to "go shopping" whenever a national or international crisis occurs?
Tired of hearing that "recycling" will save us?
Note: Recycling is a very good idea, just "not enough."
Want to know how our so-called Consumer Society was manufactured?
Want to know why the linear "produce, manufacture, CONSUME" model is ...
Can you envision a country that plans to rid itself of both Coal and Nuclear Energy source-dependence? Germany is on track to do so:
Today, the Global Forest Coalition and the Global Justice Ecology Project strongly condemn—on both human rights and environmental accounts—recent carbon trade announcements/resolutions at the UN Bali Glogal Climate Change Conference. "They are going to use the failed model of carbon trading to supposedly protect forests, but just like agrofuels, the ...
Until a few days ago I had no idea that people were playing with the idea of using compressed air to power vehicles. Now it looks like we may see some within the next few years. Add in a hybrid gas engine to compress more air and compressed ...
On mainstream news this morning I heard our Utah Governor declare US gas prices "outrageous". Memorial Day national news coverage labeled them "sky high." Wrong! Gas prices only seem outrageous to we Americans who George W. Bush correctly noted are "addicted to oil".
Europeans, by contrast, have lived ...
I've been thinking about changing the name of this blog for quite a while. I never intended to steal the trademark name "Ecological Economics" from its rightful owners. Instead, my hope was that I might draw a few key players from that arena into the blogosphere to add ...
Over at Mother Jones, Kevin Drum declares Cap and Trade dead as a doornail. Drum adds that "we're not going to get a lovely and elegant carbon tax in its place. For now, carbon pricing is dead."
To better understand why this is not such a ...
It is nice to see that Willem Buiter shares my skepticism about Cap and Trade Carbon schemes relative to Carbon Taxes. It is nice because his London School of Economics credentials eclipse mine, and those are just the beginning of why he is held in high esteem in both ...
Jeffery Sachs nails the essence of our American grown policy problem: Never a thoughtful discussion, always a bunch of talk show hosts (some masquerading as news outlets) batting around trivia. Even when so-called experts are called in, there is seldom a thoughtful vetting of who ought to be in the ...