September Payroll Employment
We are still 1% 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?
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In a new publication for the American Institute of Contemporary German Studies (AICGS) at the Johns Hopkins University in Washington, D.C., I argue that no matter who is going to win the election in Germany in September, Germany will continue to be an obstacle to the reduction of global imbalances. ...
Last week, the Grand Coalition made sure that their legacy in Germany's economic policy stance will be far beyond the next election on September 27, 2008. After the Bundestag had already voted to amend the constitution and to include a sweeping ban on public borrowing a couple weeks ago, the ...
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Sounds too good to be true? Right. It is not ...
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I have been asked to testify in front of the European Parliament's Committee on Economic and Monetary Affairs on the planned financial supervisory structure in the European Union and I had my hearing in Brussels last week. Here is my statement:
Dear Ms. Chairwoman Sharon Bowles, Ladies and Gentlemen,
Let me first ...
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Today, the European Commission presented further ideas for the reform of economic governance in the EU and EMU. The package contains six legislative proposals, including a second reform of the Stability and Growth Pact (SGP) and macro-economic coordination (see here). With the media having reported some of the ...