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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News from 1930
"Being a daily summary based upon my reading of the Wall Street Journal from the corresponding day in 1930.”
No Journal was published Tuesday, September 8, 1931, following Labor Day. See you tomorrow back in 1931! ...
No Journal was published Monday, September 7, 1931, Labor Day. I'm putting the week in review for last week in today's blog for ...
Note: I only have time for a short version today, and probably for a few weeks to come, due to heavy ...