September Payroll Employment
We are still 2% 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?
The Economics Roundtable is sponsored by EconModel.
The Classic Economic Models cover micro, macro, and financial markets.
The Commentators section of the Economics Roundtable compiles links to news and opinions from a wide range of web sites. The intent is to select items related to economics. Sites are selected on the basis of how difficult it is to separate the economics content from the political, personal, etc. content. No effort has been made to screen sites on the basis of any agreement or disagreement with the content.
A Note for Prospective and Current Commentators
The Economics Roundtable is not a forum for news about your cat/dog/hamster, details of last night’s date/dinner/dancing, opinions about politicians/wars, weather reports, movie reviews, or your blog’s need for donations. The editorial policy aims to feature only economics.
Blogging software generally includes the ability to tag each entry with a “category” or “subject”. For some blogs, the Roundtable just lists 100% of the entries, tolerating the occasional off-topic post. For other blogs, the Roundtable picks up specific categories (e.g, “economics") or excludes specific categories (e.g., “politics"). If your blog is not a very high percentage “economics,” then using meaningful categories/subjects may still make it possible to get listed on the Roundtable.
The “Recent Entries” page carries entries for a 24 to 48 hour period. At about midnight Pacific Time (U.S.), the list is trimmed to the previous 24 hours. Throughout the day, the list then grows to include 48 hours of entries. This means that if you check the “Recent Entries” page during the day on Tuesday, you will see all of Monday and part of Tuesday. Daily visitors receive complete coverage.