Technical Problems 3/9/15
The website was down several hours today, but is back up now.
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 .
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.
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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Carpe Diem (Mark J. Perry)
"Mark J. Perry’s Blog for Economics and Finance”
Last month the American Association of University Women (AAUW), the nation’s leading voice promoting equity and education for women and girls, released its annual report on the gender pay gap — “The Simple Truth about the Gender Pay Gap.” I take the ...
1. Chart of the Day I. From 1996 to 2014, the chart above shows North Dakota’s: a) annual oil production and b) annual ranking (inverted) for per-capita personal income by state (BEA data just released today for 2014 here). In the pre-shale ...
My recent CD post on Seattle’s pending 58% increase in its minimum wage from $9.47 per hour currently to $15 generated a lot of discussion (129 comments as of today) and controversy about whether and how much the minimum wage increase is contributing to restaurant closings and jobs losses ...
1. Photo of the Day I (above). Pretty hard to have a conversation with many black people (or women) at Starbucks’ almost-all white and all-male top management team. Here’s some “color commentary” from Robert Wenzel’s excellent article “
1. Chart of the Day I. Another chart of the increasing unaffordability of college and the debt-fueled “Higher Education Bubble,” showing that the cost of college in the US has been increasing annually at a rate (6.2%) that is almost twice the annual ...
Today’s post will focus on two bubbles: 1) the “Higher Education Bubble” and 2) the “Taxi Medallion Bubble.” Let’s start with some charts that illustrate the rising cost of college and the “higher education bubble” in the US.
1. Time Cost of College. ...
A few excerpts from Matt Ridley’s excellent article in Saturday’s WSJ about how “Fossil Fuels Will Save the World (Really)“:
1. In 2013, about 87% of the energy that the world consumed came from fossil fuels, a figure that—remarkably—was unchanged from 10 years before. Over this period, the overall volume ...
Seattle’s new minimum wage law government-mandated wage floor that guarantees reduced employment opportunities for many workers goes into effect on April 1 and already the city has seen a number of restaurant closings and job losses related to the government-mandated wage hike. The law will take effect in stages and ...
Today I received an email from Dan Kildee, my Congressional Representative in Michigan, and I present it below, with some minor adjustments to the original text and graphic:
March is Women’s History Month — a time to reflect on the accomplishments of women ...
1. Chart of the Day. US oil output continues to surge, despite low oil prices. During the first week of March, the EIA reported yesterday that oil production reached 9.36 million barrels per day, the highest level of output since February 1973.