September Payroll Employment
We are still 2% 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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Now on to the hard work of fixing the economy...
It's been a busy couple of weeks. Below is some of what I've done...Testimony: Transportation and Infrastructure Committee "A rescue plan for main street" EPI Policy Memorandum #132 National Journal Experts Blog Google's "Knol debates" vs CATO C-Span Washington Journal NPR Marketplace The Hill, Support for 2nd stimulus ...
Obama gets endorsements from two socialist publications: The Economist and Financial Times
A new Gallup Poll finds 48% of Americans saying the amount of federal income taxes they pay is "about right," with 46% saying "too high" -- one of the most positive assessments Gallup has measured since 1956. Typically, a majority of ...
We're hiring a labor economist at EPI... see link for details on how to apply...
Living Standards/Labor Economist
The Economic Policy Institute is looking for an experienced economist for our flagship Living Standards program. In that position, the successful candidate would work with the Living Standards team to ...
Now live on Twitter...
Best idea I've heard in a while...
Create an "extended warranty fund" Instead of buying warranty after warranty, why not create an "extended warranty fund." In other words, whenever a retailer offers you an extended warranty, simply transfer that amount of money into ...
Making minor improvements... but want to redesign to incorporate twitter, posterous.
Also thinking about moving from movable type to a hosted platform to better cross-post.
I've been trying to track this article down for months... must read for those interested in setting the record straight.Persistence of Myths Could Alter Public Policy Approach - washingtonpost.com