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United States Channel: Latest Posts
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United States
Job Openings on the Rise
Job openings in the U.S. rose to 3.4 million on the last business day of December, up from 3.1 million a month earlier, the Labor Department reports. “Although the number of job openings remained below the 4.4 million openings when the recession began in December 2007, the number of job openings has increased 39 percent [...]
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United States
The Sad Spectacle of Obama’s Super PAC
It has been said there is no high ground in American politics since any politician who claims it is likely to be gunned down by those firing from the trenches. That’s how the Obama team justifies its decision to endorse a super PAC that can raise and spend unlimited sums for his campaign. Baloney. Good [...]
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United States
A Letter From Lt Col Daniel L. Davis, Who Is a Fulcrum That Can Move a Nation – Should We Choose to Help Him
Summary: Please read this letter from Daniel L. Davis (Lt Colonel, US Army). He has set in motion forces that can change America, but only if we choose to help. Pass this on to your Congressmen, Senators, local newspapers, associate, friends, and relatives. If we stand together we can reclaim America. Today is an opportunity to [...]
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United States
Can Raising Interest Rates Spark a Robust Recovery?
Could the Fed spark a robust recovery by raising its federal funds rate target? For Bill Gross the answer is yes. He believes a key reason holding back the recovery is that the Fed is engaged in a type of financial repression where financial intermediaries’ net interest margins–the difference between their funding costs and lending [...]
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Ed Dolan's Econ Blog
Latest Economic Data Begin to Shift the Counterfactual in Favor of Democrats
For all of last year, as the parties tested their rhetoric in the early stages of the election campaign, Democrats were stuck in the unenviable position of arguing a counterfactual: “The economy is bad, but without what we have done, it would have been even worse.” That could very well have been true, but it [...]
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United States
The Downward Mobility of the American Middle Class, and Why Mitt Romney Doesn’t Know
January’s increase in hiring is good news, but it masks a bigger and more disturbing story – the continuing downward mobility of the American middle class. Most of the new jobs being created are in the lower-wage sectors of the economy – hospital orderlies and nursing aides, secretaries and temporary workers, retail and restaurant. Meanwhile, [...]
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United States
Jobs Data Highlight Huge Potential for Capital Loss in Treasuries
US Q4 2011 GDP growth was slightly disappointing, and the mix was terrible as the growth was mostly due to inventories. I took issue with that report, arguing that the weakness was due to statistical distortions in the government spending data and the PCE services data. With that disappointing Q4 GDP report, expectations for quite [...]
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United States
Employment: Some Good News, Some Bad News
Comparisons can be useful in determining where the economy is at any given point in time, and today’s Employment Situation report from the U.S. Bureau of Labor Statistics provides another opportunity to do just that. According to that report, the U.S. economy added 243,000 nonfarm payroll jobs in January 2012. But total nonfarm employment is [...]
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United States
About the January Jobs Report – Mildly Good News, but Bought at Great Cost
Summary: Most people focus on the month-to-month changes in the jobs report, which contain a lot of noise. The 12-month changes are more revealing. We are in a slow recovery, somewhat faster than in 2010. We should enjoy it, as it was bought at great cost. Here we examine the January employment report from the Bureau of Labor Statistics. They conduct [...]
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United States
America’s Jobs Deficit, and Why It’s Still More Important than the Budget Deficit
The most significant aspect of January’s jobs report is political. The fact that America’s labor market continues to improve is good news for the White House. But as a practical matter the improvement is less significant for the American work force. President Obama’s only chance for rebutting Republican claims that he’s responsible for a bad [...]
