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 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...


March 6, 2016, 4:04 am, 1615255
My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. We all need a break from the referendum this week, so I will provide one here. The only thing I will mention in passing is the...


February 28, 2016, 4:04 am, 1613014
My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. History does not necessarily repeat itself, but it is a long way from being “more or less bunk” as Henry Ford famously put it. History looms...


February 21, 2016, 4:04 am, 1610604
My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. It is the biggest and most toxic issue in the referendum debate, central to the deal concluded by David Cameron late on Friday. It is the...