May 2014 Jobs Reports: Good News, Bad News

By: Wednesday June 4, 2014 2:18 pm

Through all these four plus years of job growth to get back to where we were at the start of the Great Recession, we have been falling behind as it takes roughly 90,000 new jobs each month just to keep up with the new people entering the job market each month. If we take it back to the beginning of the Great Recession in December 2007, we are still in the hole on needed jobs by a bit over 7M (6.5 (years) x 12 (months per year) x 90K (jobs per month) = 7,020,000.)

 

Income Is Definitely Being Redistributed Upward, But Why Do We Think It’s Technology??

By: Monday July 9, 2012 9:55 am

Thomas Edsall devoted his blogpost today to several economists who claim that the upward redistribution we have seen over the last three decades is a result of revolutions in technology and that it will be difficult to reverse this development. In fact much of this economic analysis is quite sloppy, and it is easy to show that many of the factors leading to upward redistribution had nothing to do with technology.

America’s Failed Mole-by-Mole Trade Policy

By: Wednesday February 8, 2012 7:08 pm

Last week several groups, including the United Steelworkers, petitioned the federal government to whack the latest trade mole – illegally traded auto parts from China.

With President Obama announcing creation of a new trade enforcement unit in his State of the Union Address, the feds probably will investigate. But even if they whack down the auto parts mole, experience has shown a new mole will pop up.

Intro Econ for WAPO: Foreign Holdings of U.S. Debt Depend on the Trade Deficit, not the Budget Deficit

By: Wednesday July 20, 2011 1:40 pm

Those who are actually concerned about foreign holdings of U.S. government debt should know that it depends on the trade deficit, not the budget deficit. This is all simple econ 101. It means that the jingoistic budget hawks are yapping about the wrong deficit. The recipe for correcting the trade deficit (more econ 101) is lowering the value of the dollar against other currencies.

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