Economics Roundtable

May 2014 Payroll Employment

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

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Jobs

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?


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Carpe Diem - AEI (Mark J. Perry)


November 27, 2014, 1:33 pm, 1378947

1. About Those Union-Organized Black Friday Protests at 1,600 Walmarts. From my op-ed in tomorrow’s Investor’s Business Daily, “Black Friday Wal-Mart Protests Miss Mark On Pay Gap” (with Michael Saltsman):

What is overlooked or ignored by labor unions and anti-Wal-Mart organizations is that it takes highly compensated, superstar-level managerial talent ...


November 26, 2014, 7:33 pm, 1378616

We hear all the time that “the rich aren’t paying their fair share of taxes” (you’ll find more than 1,000,000 Google search results for that phrase). Early last year Obama reiterated his belief that the wealthiest Americans still aren’t paying their “fair share” of taxes. Here’s an analysis using recent ...


November 26, 2014, 11:33 am, 1378401

This post has been an annual tradition at CD now for several years:

Like in previous years, most of you probably didn’t call your local supermarket ahead of time and order a Thanksgiving turkey this year. Why not? Because you automatically assumed that a turkey would be there when you showed ...


November 25, 2014, 7:33 pm, 1377949

1. Chart of the Day. Based on new data from the Department of Energy, the US had produced domestically 86.2% of the energy consumed this year through August – that the highest level of energy self-sufficiency for the US since 1986.


2. Photos ...


November 25, 2014, 5:33 pm, 1377902

The CPB Netherlands Bureau for Economic Policy Analysis released its monthly report today on world trade and world industrial production for the month of September. Here are some of the highlights of that report:

1. World merchandise trade volume (adjusted for price changes) increased by 2.0% in September on a ...


November 25, 2014, 3:33 am, 1377371

Frequency of Appearing in the Top 400 Tax Returns by Adjusted Gross Income, Tax Years 1992–2010

Number of Years in the Top 400Number of Taxpayers in GroupPercent of Taxpayers Represented by Each Group12,90972.3%250412.5%31754.3%41263.1%5701.7%65
5


November 24, 2014, 7:33 pm, 1377206

In a CD post a few weeks ago, I discussed how the Minneapolis Public Schools (MPS) announced that it will address racial disparities in student suspensions by imposing racial quotas for future suspensions. Several legal experts have pointed out that those explicit racial quotas might be unconstitutional because they ...


November 24, 2014, 3:33 pm, 1377116

1. Chart of the Day I. We hear all the time that women are unacceptably underrepresented in STEM degrees and careers. The table above shows that women are vastly over-represented getting doctoral degrees in at least some STEM fields.

2. Chart of the ...


November 21, 2014, 9:33 pm, 1376080

The chart above shows a most amazing economic phenomenon: Since December 2007 when the Great Recession started, Texas civilian employment has increased by 12.4% and by more than 1.36 million jobs, from just over 11 million jobs in December 2007 to 12.37 million in October of this year (see blue ...


November 21, 2014, 1:33 pm, 1375874

From the American Farm Bureau Federation (AFBF):

The American Farm Bureau Federation’s (AFBF) 29th annual informal price survey of classic items found on the Thanksgiving Day dinner table indicates the average cost of this year’s feast for 10 is $49.41, a 37-cent increase ...