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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"The personal website of David Smith, Economics Editor of the Sunday Times, London.”


May 22, 2016, 4:04 am, 1638689
My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. A few weeks ago I came across a woman who told me that she was voting to leave the European Union because it had stopped her...


May 15, 2016, 4:04 am, 1636620
My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. Thursday’s Bank of England inflation report press conference was, by my calculation, the 29th since interest rates last changed. I may have missed one or two...


May 8, 2016, 4:04 am, 1634236
My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. Let me take a break from the heat of the Breferendum debate this week and enter the calmer but only slightly less contentious waters of the...


May 1, 2016, 4:04 am, 1631728
My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. There are two things that even the most casual observer of the EU referendum debate will have heard. One is that we “send” £350m a week...


April 24, 2016, 4:04 am, 1629413
My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. There are now just two months to go (two months!) to the referendum and as promised another instalment in my series on the economic issues. So...


April 17, 2016, 2:04 am, 1627306
My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. The sun has been shining, the birds singing and the days getting longer. But if the economy has a spring in its step it is keeping...


April 3, 2016, 4:04 am, 1623311
My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. The referendum on Britain’s membership of the EU is still more than two months away, though the campaign seems to have been going on forever. Given...


March 27, 2016, 6:04 am, 1621317
My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. On Friday this week, the biggest government intervention in wage-setting since the introduction by the Blair government of the minimum wage in 1999 will occur. The...


March 20, 2016, 6:04 am, 1619400
My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. My initial reaction to Wednesday's budget was that, apart from being the fiddliest I could recall, it would not stay long in the memory. That was...


March 13, 2016, 5:04 am, 1617355
When George Osborne started thinking about his eighth budget a few weeks ago he probably knew that by the time March 16 came around the EU referendum battle would be in full swing. That did not, however, stop him...