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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Carpe Diem - AEI (Mark J. Perry)
1. The Energy Information Administration reported today that for the third straight week, the US produced more than 8 million barrels of oil ...
The graphic above comes from this Quartz article and compares what happens every minute on the Internet this year, compared to last year. Pretty amazing. And here’s a graphic below that shows the percent changes from 2012 to ...
Probably the most vulnerable, at-risk group in the labor market would have to be black male teenagers, judging by the 44.3% jobless rate for that group in November. In contrast, the jobless rate for white male teens in November was less than half the rate of their black counterparts (19.8%); ...
In an historic departure from the traditional law enforcement approach to waging a War on Weeds Users of Arbitrarily Proscribed Psychoactive Substances and Weeds, the country of Uruguay became the first nation in history to legalize the consumption, sale, and cultivation of cannabis weeds.
Here are a few news reports of ...
As I was preparing this post of energy charts, I noticed that Matthew O’Brien at The Atlantic just published The Most Important Economic Stories of 2013—in 40 Graphs and guess what? Not one of the 40 graphs highlighted what might be not just one of the most ...
1. Research Shows that Differences in How Men and Women Think Are Hard-Wired. Wow, who would have thought that a half-dozen recent studies actually found gender variations in the brain’s wiring diagram?…. For some…. maybe the gender activists, who don’t believe in any gender differences, these findings ...
The Federal Reserve reported today the net worth of American households – the difference between the value of total household assets and total household liabilities – rose to $77.26 trillion in Q3 this year, establishing a new all-time ...
In his address last Wednesday at the Center for American Progress, President Obama made the following statement:
It’s also true that women make 77 cents on the dollar compared to men. So we’re going to need strong application of ...
1. “No tendency is quite so strong in human nature as the desire to lay down rules of conduct for other people.”
~William Howard Taft referring to the temperance movement of the early 1900s that was a major force in America’s First War on Drugs Peaceful Americans Who ...