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
One of the my major frustrations as a blogger and as a follower of economic news is the way in which misinformation and falsehoods get repeatedly passed around as they were facts. For example, one common meme that we hear a lot is that the government, especially under Obama, has engaged in a massive spending … Continue reading The Federal Government HAS Been Cutting Spending – And That’s A Major Problem
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
According to the Congressional Budget Office (CBO) the U.S. has a cumulative output gap of $2.8 trillion so far since the recession began. That's trillion with a TR, as in a million millions. This is the core problem in the U.S. today and for the next couple years. The recession saw the economy shrink and … Continue reading The Mess We’re In – Trillions of Dollars of Missing GDP
First the facts and then my comments. Calculated Risk Blog reports from the BLS: From the BLS: Nonfarm payroll employment changed little (+54,000) in May, and the unemployment rate was essentially unchanged at 9.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains continued in professional and business services, health care, and mining. Employment levels in … Continue reading The Economy Is Stalling – Employment Report for May 2011
A new semester is beginning, and with it get start another dialogue on the macro-economy with new group of students. So to start the conversation I'm going to make a few posts that take a look at just where are we in the U.S. economy. This first post is going to look at GDP and … Continue reading So Where Are We? Part I
I'm a few days late with this, but much of the mainstream media have covered it already. The recession is over. Officially. We are now in recovery officially. Actually we've been in recovery for over a year now, ever since June 2009. The official pronouncement is here. Of course this has led to much confusion … Continue reading It’s Over. Economists are Speechless.