September Payroll Employment
We are still 1% 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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Outside the Beltway
The Washington Post reports on two drugs that are both equally effective in dealing with a serious problem afflicting the sight of elderly Americans, with the only difference being their price, and why doctors are more likely to ...
The ongoing client in the seas and skies in the Western Pacific took a new turn when South Korea announced an expansion of its own air defense zone:
SEOUL, South Korea — Defying both China ...
Earlier this morning, WSJ tweeted, “Nearly 1 in 64 U.S. homes for sale are described as “perfect for entertaining” – up 15% from the past year.” My immediate reaction ...
Last month’s Jobs Report for October was surprisingly stronger than expected. For a month in which hundreds of thousands of people were on leave because of the Federal Government shutdown, we saw 204,000 new jobs created while ...
The first revision of 3rd Quarter Gross Domestic Product was released today and, while it looks like good news on the surface, a closer examination of the numbers reveals that there’s little to be happy about and, ...
A Federal Judge ruled today that the City of Detroit was indeed eligible to file for bankruptcy protection:
DETROIT — Detroit is eligible to shed billions in debt in the largest public bankruptcy ever in the United States, a ...
An interesting report in USA Today this morning about casual dining chains looking at placing tablets at customer tables to assist in the ordering and payment process:
That endless wait for the restaurant check soon may be over.
Applebee’s, the nation’s largest ...
The Supreme Court declining to hear a case seldom makes national news, and usually doesn’t have a huge impact on national politics or the law, but that may turn out to not be the case when it comes ...
Last night, on the eve of the much vaunted Cyber Monday, the day on which Americans return to work after the long Thanksgiving Day holiday and promptly spend their day shopping online instead of work, CBS’s 60 Minutes ...
The mid to late 1990s were quite a good economic time in the United States. Economic growth was strong, the stock market was booming, housing prices were increasing at rates that made buying a home seem more like ...