Economics Roundtable

May 2014 Payroll Employment

After 76 months, we finally got back to the prerecession level of payroll employment.

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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.


The Economics Roundtable is sponsored by EconModel.

The Classic Economic Models cover micro, macro, and financial markets.

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"Art Diamond’s web log”

October 25, 2014, 5:33 am, 1357547

Source of graph: online version of the NYT article quoted and cited below.

(p. A1) WASHINGTON -- Is a family ...

October 23, 2014, 5:33 am, 1356134

(p. A11) Mr. Bryce's engrossing survey has two purposes. The first is to refute pessimists who claim that technology-driven economic growth will burn through the planet's resources and lead to catastrophe. "We are living in a world equipped with physical-science capabilities that stagger the imagination," he writes. ...

October 21, 2014, 5:33 am, 1354597

(p. R3) College degrees and internships don't produce the same quality of worker as intensive, on-the-job apprenticeships, says Brad Neese, director of Apprenticeship Carolina, a program of the South Carolina Technical College System. Employers are seeing "a real lack of applicability in terms of skill level" from ...

October 14, 2014, 5:33 am, 1350627

(p. B4) A study published this year in the journal Experimental Brain Research found that measurements of people's heart rates, hormonal levels and other factors while watching a boring movie -- men hanging laundry -- showed greater signs of stress than those watching a sad movie.

"We tend ...

October 10, 2014, 5:33 am, 1348984

(p. 6) . . . , Greg Clark, a professor of economics at the University of California, Davis, has gone so far as to argue that the Industrial Revolution was in part a self-control revolution. Many economists, beginning with Adam Smith, have argued that factories -- an ...

September 24, 2014, 5:33 am, 1340332

(p. 4) A recent study, published in The American Sociological Review, aimed to see whether the stress of work-life conflicts could be eased if employees had more control over their schedules, including being able to work from home.   . . .

The study, financed ...

September 16, 2014, 5:33 am, 1335632

(p. A13) . . . , a lack of "demand" is no longer the problem.

. . .

Where, instead, are the problems? John Taylor, Stanford's Nick Bloom and Chicago Booth's Steve Davis see the uncertainty induced by seat-of-the-pants policy at fault. Who wants ...

September 3, 2014, 5:33 am, 1328327

Source of graph: online version of the NYT article quoted and cited below.

(p. 4) JUST over 50 ...

September 1, 2014, 5:33 am, 1327350

(p. C6) The outcome was perhaps foreshadowed, as Mr. Marciano points out, when President Ford, using a customary unit, noted that American industries were "miles ahead" when it came to adopting the metric system.

Mr. Marciano tells his story more or less without editorializing, until the end. Surveying ...

August 28, 2014, 5:33 am, 1325765

(p. 836) Moretti's writing on the "creative class" takes issue with policies associated with Richard Florida, who has exerted a considerable influence on local policymakers worldwide. Moretti uses the example of Berlin, which is a cool place full of creative types but still isn't much of ...