September Payroll Employment
We are still 1% 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?
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DataPoints: The Dismal Scientist
"A free and open exchange on the economy, and other things.”
by Moody’s Economy.com, a division of Moody’s Analytics.
Mark Zandi talks with the New York Times' David Leonhardt about the U.S. housing market's current woes:
Q. I’m struck at how much higher the rent ratio still is in many places, relative to its average from 1990 to 2010. It’s about 18 in Washington (relative ...
Washington is not out of tools to help get Americans back to work, Mark Zandi tells CNN.
The Standard & Poor's credit downgrade is just the latest blow to a delicate collective psyche. Mark Zandi discusses the implications with Bloomberg.
The July employment report was, if not exactly good, at least better than expected. Mark Zandi discusses with the CNBC crew.
The economy's path depends to a large extent on how Main Street reacts to Wall Street's roller-coaster, Mark Zandi tells CBS.
The Federal Reserve has aggressively eased monetary policy in response to the turmoil in financial markets and weaker economy. Policymakers have all but promised to keep the federal funds rate target effectively at zero through mid-2013.
Long-term interest rates have fallen significantly in response, with fixed mortgage rates closing in ...
Policymakers can and likely will do more to support the economy, Mark Zandi tells Bloomberg News.
The risks are rising, but skilled policy can keep the U.S. out of recession, Mark Zandi tells CBS News
As the economy teeters, what role is there for policy? Mark Zandi discusses the latest developments with Ezra Klein and Jared Bernstein on MSNBC.
Stocks went south last week, then came back. What does that mean for the economy? Mark Zandi discusses with CNBC.