Economics Roundtable

May 2014 Payroll Employment

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

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Jobs

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 .


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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.


EconModel

The Economics Roundtable is sponsored by EconModel.

The Classic Economic Models cover micro, macro, and financial markets.


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Undercover Economist (Tim Harford)


April 29, 2016, 7:23 am, 1631207
‘Though the idea of a basic income is far from mainstream, it has had astonishingly broad support’


April 22, 2016, 7:23 am, 1628997
‘The wounds of a large industrial closure run deep. The entire economic ecosystem of an area can collapse’


April 8, 2016, 7:23 am, 1624918
‘The most notorious example of this “compromise effect” is our tendency to plump for the second-cheapest bottle on the wine list’


April 1, 2016, 9:23 am, 1622980
‘“Naive realism” is the seductive sense that we’re seeing the world as it truly is, without bias or error’


March 24, 2016, 1:23 pm, 1620824
‘Freer trade has inflicted a more grievous toll than economists, myself included, had expected’


March 18, 2016, 7:23 am, 1619033
‘The wealthy do not simply wallow in bank vaults like Scrooge McDuck. They spend their money’


March 11, 2016, 7:23 am, 1616971
‘The UK already relies more than most rich countries on fuel, alcohol and tobacco duties’


March 4, 2016, 7:23 am, 1614848
‘Keynes was right to predict that we would be working less but overestimated for how long that trend would continue’


February 26, 2016, 7:23 am, 1612555
‘Would you say that someone reading the FT is more likely to have a PhD or to have no college degree at all?’


February 19, 2016, 7:23 am, 1610191
‘When oil prices are high, people may get out of their cars and walk, cycle or get public transport’