Technical Problems 1/21/15
The website was down for a day and a half, 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”
1. Chart of the Day I. The EIA reported yesterday that US oil production increased last week to 9.21 million barrels per day, the highest level of domestic crude oil production since October 1973, more than 41 years ago. Peak what?
The real bosses, in the capitalist system of market economy, are the consumers. They, by their buying and by their abstention from buying, ...
The Texas Workforce Commission released state employment data today for the month of December, and job growth in the Lone Star State continues to lead, and in fact carry the nation’s improving labor market as the chart above show. Here are some ...
When government agencies or heavily regulated industries are insulated from market competition, the incentives to offer better service and lower prices, along with the incentives to innovate, upgrade and improve are either significantly weakened or non-existent. But when faced unexpectedly with some market competition, it’s amazing how the normally sclerotic, ...
1. Don Boudreaux to President Obama: “Because the $10.10 per hour minimum wage would price many workers out of jobs, that policy would indeed change these workers’ incomes: it would drop them to $0. So I say this: If you truly believe you could be unemployed full-time and support a ...
With all the talk about “disparities” in innumerable contexts, there is one very important disparity that gets remarkably little attention — disparities in the ability to create wealth. People who are preoccupied, or even obsessed, with disparities in income are seldom interested ...
1. Chart of the Day. Oil output in North Dakota has flattened out in the last few months, but still set new record production highs in November for both the Bakken oil fields (1.12 million barrels per day) and statewide (1.87 million barrels ...
I’ve argued many times before on CD that when it comes to regulation of markets, businesses or industries, it’s never a choice between: a) government regulation and b) no regulation. Rather it’s a choice between: a) government regulation and b) regulation by arguably the most ruthless, meticulous and conscientious group ...