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 .

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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.


The Economics Roundtable is sponsored by EconModel.

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The Borjas Blog

"George Borjas’s thoughts on immigration, labor markets, and random stuff”

July 5, 2015, 12:44 am, 1502362

There's a very interesting article in Forbes about Indian immigration to the United States.

Most ...

July 5, 2015, 12:44 am, 1502364

Immigration, both legal and illegal, was the silent issue in the presidential campaign--despite the rapidly deteriorating economic conditions. I suspect that the worsening labor market will force President Obama to wrestle with the immigration issue sooner rather than later. It'll be hard to justify a ...

July 5, 2015, 12:44 am, 1502363

Having lived in California for a long time, I followed the budget crisis there with some interest. Last night, I ran across this item in Instapundit

July 5, 2015, 12:44 am, 1502360

I can hardly believe it, but the fifth edition of my textbook

July 5, 2015, 12:44 am, 1502361

What's the world coming to?

First, I read about American Express offering some of its customers $300 to close their accounts. (Note to AMEX: how come ...

July 5, 2015, 12:44 am, 1502359

I've been meaning to post that the paper that Jeff Grogger, Gordon Hanson and I wrote on the impact of immigration on the African-American community is now in final form. Here is the abstract:

The ...

July 5, 2015, 12:44 am, 1502356

The Pew Hispanic Center has an interesting report on the illegal immigrant population in the United States. The Los Angeles Times

July 5, 2015, 12:44 am, 1502355

The WSJ has a very interesting article:

The Great U-Turn: The developed world, which for decades has offered a difficult but promising path to upward mobility, ...

July 5, 2015, 12:44 am, 1502357

I've been following the work of the Center for Immigration Studies since the mid-1990s. They regularly publish empirical research on immigration, and I happen to be friends with both the head ...

July 5, 2015, 12:44 am, 1502358

I've been thinking for some time about the theoretical underpinnings of how immigration affects labor market conditions in sending and receiving countries. It seems to me there is a lot of confusion--some of it needless, some of it deliberate--and all kinds of conceptual ...