Government finally starts to get out of the way of recovery. In an earlier post today on the good news of the January 2012 employment report, I observed that one of the major factors resulting in an improved (but not good enough) jobs report was that government employment numbers stopped dragging down the total. I … Continue reading Government and the Slow Jobs “Recovery”
Finally we are getting some good news. At least most people will consider it good news. Republican Presidential candidates hoping to run against Obama on "weak economy platform" might not happy with the news. Today the Bureau of Labor Statistics (BLS) released the January 2012 employment data. The unemployment rate has declined again. It … Continue reading A Journey of 100 Months Starts With the First Month
Yesterday I said I was reluctant to get over-optimistic about the recent slight upturn in employment data. This year may truly be different from the last few, but there's a nagging feeling that we've seen this movie before. I'm not alone in the feeling. As 2012 dawns, Tim Duy summarizes the problem in one graph (emphasis … Continue reading The Problem in One Graph
Well I'm back. Yes, it's been a longer than expected break from blogging driven by work considerations, but contrary to the rumors, I have not been "doomed". So it's on to a new semester and a new resolution to post frequently. I hope 3-5 times per week. To start things off, yesterday was the first … Continue reading Setting the Bar Very Low: The Unemployment Report for December 2011
I'm a few days late but I wanted to note the latest employment (jobs) report and the first revision to 3rd quarter GDP. There's really not much news here - it's the same old story. The economy continues to move along somewhat like a zombie. Not really dead, but definitely not anything you could call … Continue reading November Employment and Revised 3rd Qtr 2011 GDP
Two of the more important (U.S.) economic measures were reported in last week and half. Yesterday the October jobs report came in. The week before we got the flash report on 3rd quarter GDP. Both measures were better than feared, not quite as good as consensus expectations of many forecasters, and overall still a disappointment. … Continue reading Update on Current Situation – October Jobs Report and 3rd Qtr GDP
This being the first Friday of the month, the latest U.S. employment report was released this morning. Not good news. In a nutshell: no new net jobs created and the unemployment rate holds steady at 9.1%. It disappointed even the weak expectations of forecasters. The news continues to show an economy that has stalled without … Continue reading Jobs And Unemployment Report For August 2011 – More Bad News, More Signs Economy Is Stalled, No Net New Jobs
Earlier this week the absurd and totally unnecessary debate in Washington over raising the national debt-ceiling came to an agreement, both houses of Congress passed it, and the President signed it. Earlier this week I gave this metaphor for the deal, wondering why we need enemies with "friends" like our representatives in Washington. Now that … Continue reading We Have A Debt-Ceiling Deal. The Economy Loses.
In the whole crazy, unnecessary debate over raising the debt-ceiling law, politicians, reporters, and commentators all spoke as if there were only two ways to reduce the government deficits. Nearly everyone took it as an article of "serious thinking" that to reduce a deficit requires either reducing spending or increasing taxes. But rather than being … Continue reading There Is An Efffective Way to Reduce Government Deficit: Employment. But They Won’t Take That Route.
The "recovery" is flat-lining. The employment report for June shows the continuing bad news. I'll let CalculatedRisk give us the facts: From the BLS: Nonfarm payroll employment was essentially unchanged in June (+18,000), and the unemployment rate was little changed at 9.2 percent, the U.S. Bureau of Labor Statistics reported today. Employment in most major private-sector … Continue reading America Flatlines – Employment Report for June 2011