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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Newmark’s Door (Craig Newmark)
Great. I really look forward to four more months of my phone ringing off the hook with stupid political calls.
Not good news for Chicago property owners. And this is worse:
But Moody's is saying this will only delay the inevitable. Chicago's unfunded pension liabilities are expected to grow for another ten years despite the massive tax increase.
There are two types of academics. Those who use the Oxford comma, those who don't and those who should.
Choose a discipline you love and you'll never work a day in your life likely because that field isn't hiring.
How many humanities professors does it ...
Cue Joni Mitchell: "You don't know what you've got until it's gone."
Still more: "A ...
I suppose this shouldn't be a surprise, but it is, kinda.
Back in the '70s the U.S. antitrust agencies were concerned about anticompetitive conditions in grocery retailing, conditions that were allegedly worsened because entry into grocery retailing was supposedly just so very difficult.
Despite the difficulties Wal-Mart entered and last year it sold $167 billion of groceries.
This was interesting, I learned something, and I'm surprised that The Atlantic ran it.
Crime rates started to decline in the mid-1930s, at the same time that the New Deal went into effect. This may seem like cause-and-effect: unemployment and poverty were reduced, so violent crime diminished. But ...
People who really believe that trade restrictions prevent domestic unemployment or raise domestic wages â€“ people who really believe that minimum wages raise the incomes of low-skilled workers without causing any loss of employment or worsening of other terms of these workersâ€™ jobs â€“ people who ...
Go ahead, explain to me again how awful capitalism is.
The Chinese food chainâ€™s success storyâ€”how a single outlet in the Glendale Galleria grew to 1,800 locations worldwideâ€”begins with one secret ingredient: owners who care.
Over the weekend, I stopped to buy gas at a ...
Calm, reasonable, and completely convincing. Send the links to a gun-control advocate you love.