On a day where unemployment in the Eurozone hit a new high of 11.1%, with youth unemployment over double that, German manufacturing is feeling the bite from the slump among export partners. This reminds us that while last week’s agreements may have averted the immediate bank crisis, it hasn’t addressed the underlying economic problems.
|By: David Dayen Thursday June 21, 2012 3:09 pm|
The big story today comes from Bloomberg, which tells a tale of the Romney campaign asking Florida Governor Rick Scott to downplay stories about economic recovery in his crucial swing state.
|By: David Dayen Tuesday May 29, 2012 9:15 am|
The last four years have seen a comeback in manufacturing. As that relates to the auto rescue, the Obama Administration never tires of telling the story. But one part of that story is often left out of the telling. Because it turns out that the expansion in manufacturing has accompanied flat wages (WSJ subscription required) for the sector, as worker salaries haven’t kept up with the rate of inflation.
|By: Gregg Levine Friday February 17, 2012 2:15 pm|
A “level playing field” sounds inherently fair, so why should domestic solar manufacturing have to suffer for the sins of legacy energy production?
|By: David Dayen Wednesday January 25, 2012 10:00 am|
One intriguing item that Obama announced in his State of the Union was on a Trade Enforcement Unit. I I tend to be skeptical about these enforcement agencies. But if you follow the facts, the President is correct that his Administration has been solid on bringing trade cases against China, on tires, on steel, on solar products, on rare earth minerals, and he’s gotten results.
|By: David Dayen Friday December 30, 2011 8:45 am|
Manufacturing has been a bright spot over the past year in terms of jobs gained. Activity has picked up, and factories are coming back on-line. The problem is that this has come at a cost. Specifically, the US manufacturing jobs of the future feature lower pay and benefits.
|By: David Dayen Wednesday December 28, 2011 9:30 am|
In 2010, over 350 members of the House agreed to a bill designed to punish China for their currency manipulation. In 2011, 68 members of the Senate agreed to a similar bill. But in a year-end report to Congress, the Treasury Department voiced their disagreement, refusing to label China a currency manipulator, instead opting for softer language around their failing to “reform” currency operations.
|By: June Carbone Sunday November 20, 2011 1:59 pm|
Kalleberg’s solution requires rethinking the social contract, a tough sell in individualistic America. He refers to the European concept of “flexicurity,” which seeks to combine employer flexibility with worker security. Doing so requires rethinking the relationship between public and private. The essential elements of such a model require universal, affordable, portable health insurance which ideally should be separated from employment. It also requires a more secure and portable pension system, more generous unemployment insurance, and greater opportunities to acquire new skills and education over the course of a lifetime. If employment is more transient and employers invest little in their workers, then a revitalized social safety net needs to fill in the gaps.
|By: David Dayen Tuesday October 18, 2011 1:20 pm|
John Boehner has declared the China currency bill, which passed the Senate with rare bipartisan support and 63 votes, “dead on arrival” in the House. So Sen. Sherrod Brown has an op ed in Boehner’s home town paper pressuring Boehner to support the bill and explaining how exchange rates are causing Ohio to lose jobs.
|By: David Dayen Monday October 3, 2011 8:20 am|
The Senate will vote on a motion to proceed on a bill addressing currency manipulators, targeted mainly at China. Supporters believe the bill would save money, create millions of jobs over time, and has bipartisan support.