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?
The Economics Roundtable is sponsored by EconModel.
The Classic Economic Models cover micro, macro, and financial markets.
Carpe Diem - AEI (Mark J. Perry)
Starting at about 20:42 in the video above of a lecture at Kansas State University in 1978, Dr. Milton Friedman provides some remedial economic education about trade and what constitutes a “favorable balance of trade” for Donald Trump and others who suffer from “upside-down” thinking about ...
…. is from Thomas Sowell:
If there were a contest for the most stupid idea in politics, my choice would be the assumption that people would be evenly distributed in incomes, ...
Aren’t competition and creative destruction great for consumers? Exhibit A: Uber and Lyft Are Dominating Business Travel, via Fortune:
At an unprecedented pace, ride-hailing services like Uber and Lyft have ...
Some recent examples of fallout from increases in the minimum wage in California (eventually to $15 an hour):
1. Sacramento’s “Almost Perfect Bookstore” is closing its brick-and-mortar store due to rising labor costs from the “Way-Far-From Perfect $15 Minimum Wage Increase” in California, see details here.
2. Iconic LA Diner Pann’s ...
Wow, I really stirred up a hornet’s nest by bringing public attention to Michigan State University’s (probably illegal) women-only study lounge, see previous CD posts here and here. The vitriol, hatred, and hostility directed towards me by email, voicemail and on Twitter have been disturbing and disappointing, more ...
It’s an important point that gender differences in average (or median) salaries are not really “gender pay gaps” (differences in pay for doing the exact same work for the same number of hours) but rather “gender earnings differences” based on many choices that men and women voluntarily make including: the ...
It took Uber six years to complete 1 billion rides around Christmas 2015. Now, just six months later, the ride-sharing company just announced that it has completed 2 ...
…. is from Milton Friedman writing in the Wall Street Journal in 1996 about ‘fair trade’ vs. ‘free trade’:
“Fair” is in the eye of the beholder; free is the verdict of the market. The word “free” is used three times in the Declaration of Independence and once in the ...
Some updates related to my recent post on CD about the women-only study lounge at Michigan State University. First, a few news items…..
1. “U of M-Flint professor targets MSU in civil rights complaint” in the Lansing State Journal. According to this report MSU’s women’s-only study lounge “won’t be ...