Archive for the ‘Jobs’ Category

The President, the Pen, the Phone, and the States

April 3rd, 2014

I’m often asked what President Obama can really accomplish on the economy with just “the pen and the phone,” i.e., what can he do without Congress.  It’s a tough question, because moving the needle on unemployment or implementing economic policies that reach lots of people requires Congressional cooperation, of which there ain’t hardly none these days…. Read more

Jobs Day on Friday!

April 2nd, 2014

I’ve run my forecast and have come in a bit below consensus, at 170,000 for payrolls.  Consensus, as you see below from the Bloomberg expectations, is for slightly over 200,000. There’s still maybe some weather dampening the data, though less so than in previous months.  GDP grew less than 3% in 2013Q4, and forecasts for… Read more

Profits and Jobs: Not that Into Each Other

March 31st, 2014

Over at the NYT Economix blog.  This one looks at other recoveries that have lasted as long as this one and asks about, among other things, the relationship between historically quite high corporate profits, yet weak employment and wage growth.  It makes you wonder, “who are those job creators everybody around here’s always going on… Read more

A Football Slamdunk

March 27th, 2014

Not to mix metaphors, but as I read it, that National Labor Relations Board ruled that footballers at Northwestern are actually employees of the university and thus can form a union looks like a slamdunk. You’ve got capital and labor.  The university owns the franchise, produces football, and captures hundreds of millions in profits.  But… Read more

The Paradoxical Position of the National Restaurant Association in the Minimum Wage Debate

March 16th, 2014

In recent weeks, supporters and opponents of the proposal to raise the federal minimum wage to $10.10 have circulated letters to further their cause.  I was one of the 600 signers of the supporters’ letter, organized and posted by the Economic Policy Institute on their website. We learn in today’s paper that unknown to its… Read more