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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Carpe Diem (Mark J. Perry)

"Mark J. Perry’s Blog for Economics and Finance”


September 18, 2014, 1:33 am, 1336907

Engadget is reporting that there’s been a 65% drop in demand for rides from San Francisco’s taxi cartel – it’s called the “Uber effect” and is part of the “creative destruction” from the on-demand ridesharing services like Uber and Lyft that are disrupting the traditional, government-enabled, anti-consumer taxi ...


September 17, 2014, 9:33 pm, 1336855

Former Labor Secretary Robert Reich is currently a professor of public policy at the University of California-Berkeley at a salary of $242,613 in 2013 according to this University of California database. According to this link provided in ...


September 16, 2014, 9:33 pm, 1336161
Rank Top 20 US Metro Area Economies, 2013 2013 GDP (Billions) Comparable Countries 2013 GDP (billions) 1 New York-Newark-Jersey City, NY-NJ-PA $1,471,170 Australia $1,505,270 2 Los Angeles-Long Beach-Anaheim, CA 826,826 Turkey 827,200 3 Chicago-Naperville-E
lgin, IL-IN-WI 590,248 Sweden 557,000 4 Houston-The Woodlands-Sugar Land, TX 517,367 Poland 516,120 5 Washington-Arlington
-Alexandria, DC-VA-MD-WV 463,925 Argentina 488,000 6 Dallas-F
ort Worth-Arlington, TX 447,574 Austria 415,000 7 San Francisco-Oakland-Hayward, CA 388,272 Thailand 387,000 8 Philadelphia-Camde
n-Wilmington, PA-NJ-DE-MD 383,401 Colombia 381,000 9 Boston-Ca
mbridge-Newton, MA-NH 370,769 Venezuela 374,000 10 Atlanta-Sandy
Springs-Roswell, GA 307,233 Malaysia 312,000 11 Seattle-Tacoma-Be
llevue, WA 284,967 Nigeria 286,000 12 Miami-Fort Lauderdale-West Palm Beach, FL 281,076 Chile 277,000 13 Minneapolis-St. Paul-Bloomington, MN-WI 227,793 Iraq 229,000 14 Detroit-Warren-Dea
rborn, MI 224,726 Kazakhstan 220,000 15 Phoenix-Mesa-Sc
ottsdale, AZ 209,523 Peru 206,000 16 San Diego-Carlsbad, CA 197,886 Czech Republic 198,000 17 San Jose-Sunnyvale-Santa Clara, CA 196,829 Romania 189,000 18 Denver-Aurora-Lake
wood, CO 178,860 New Zealand 181,000 19 Baltimore-Columbia-Towson, ...


September 16, 2014, 7:33 pm, 1336135

Here’s a cost to taxpayers of the minimum wage that isn’t usually considering by its advocates – the cost of enforcement. For example, in yesterday’s Seattle Times we learn that “Mayor Murray seeks a new office to enforce $15 wage, other laws“:

Now that Seattle has passed a series ...


September 16, 2014, 3:33 pm, 1336014

We hear all the time about “rising income inequality” in America (there are about 1 million Google search results for that term), about “the rich getting richer and the poor getting poorer,” the “stagnant or disappearing middle class,” all ...


September 16, 2014, 1:33 pm, 1335935

According to its website, homemd is a unique mobile doctor house call service in Los Angeles.  Dr. Renee Magaña brings the age old experience of doctor house calls back into the modern world. You will receive the best of care in the convenience and privacy of your own home ...


September 16, 2014, 11:33 am, 1335858

Last week the restaurant chain Olive Garden offered a limited supply (1,000) of pasta passes (the “Never Ending Pasta Pass”) for $100 that entitles diners to unlimited pasta at any Olive Garden restaurant nationwide during an upcoming seven-week period (September 22 ...


September 16, 2014, 9:33 am, 1335780

A Saginaw, Michigan funeral home now offers drive-thru viewing. Paradise Funeral Chapel has installed a drive-thru window (pictured above) allowing people to drive up to pay their last respects.


September 15, 2014, 7:33 pm, 1335447

Eagles running back LeSean McCoy stirred up some controversy about a week ago when he ate at the Philadelphia burger joint PTY (“Home of America’s Craaaziest Burgers”) with three friends and left a $0.20 tip on a $61.56 bill ...


September 15, 2014, 1:33 pm, 1335229

1. Who’d a-Thunk It? Socialist (and beauty-obsessed) Venezuela has a shortage of breast implants?  “Unable to find the devices in doctors’ offices, some women are turning to the Venezuelan equivalent of the bartering website Craigslist, where sellers post pictures of black market implants of unknown origin sitting in ...