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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"Small steps toward a much better world”
…of those in middle-skill occupations who remain in a full-time job, about 83 percent are still working in a middle-skill job one year later. … What types of jobs are the other 17 percent getting? Mostly high-skill jobs; and that transition rate has been rising. The percent going from a ...
The most contentious may be one put forward by a group called Ecopop, which would limit immigration to 0.2 per cent of the resident population. That has alarmed businesses, who worry it would make it harder to hire skilled staff and sour relations with the EU, which is Switzerland’s largest ...
We are running a contest for MRU, and the goal is to figure out how economists ought to be put on cereal boxes. Imagine that a famous economist would in fact be represented by a cereal and a cereal box. For example there would be:
Thomas Piketty, ...
If you are going to ask “when will China clean up its air?”, you might wish to look at South Korea, a country with a broadly similar industrial profile, although of course Korea is much further along in terms of economic development.
As of 2002, South Korea was ranked ...
1. John A. Allison, The Leadership Crisis and the Free Market Cure.
3. Ted Gioia, Love Songs: The Hidden History.
4.Andrew Palmer, Smart ...
5. George Selgin on Tommy Roe (and Izabella Kaminska). And as long as we are on ...
The Bloomberg editorial staff says no:
Videos often lack critical context, and studies have repeatedly shown that jurors can be misled by variables such as a film’s angle or focus, which can unduly sway perceptions of guilt. That cuts both ways: Footage of a protester bumping ...
Boldrin, Allamand, Levine, and Ornaghi show something similar cross-sectionally, namely that the industries with the ...
There are some interesting and under-reported papers on this topic, here is one of them, by Jordan D. Matsudaira and Emily Greene Owens, here is the abstract:
In 2006, approximately 49% of violent crimes were not reported to police. Being the victim of sexual assault is expensive; each incident ...