Paul K’s agrees with me on the core aspects of my post yesterday regarding our persistent trade deficits as a barrier to full employment, but disagrees the dollars status as a reserve currency has much to do with it. Certainly the key part of all this is recognizing the damage done by trade deficits to… Read more
It’s all here, folks. That is, it’s all over at the American Prospect.
I’ve been looking for an excuse to scratch out a few lines about the connections between full employment, the trade deficit, and dollar policy—connections that understandably don’t jump out at everyone—and I’ve found a particularly good one. Ever since this oped re “Dethroning King Dollar” ran, I’ve gotten lots of love and hate mail regarding… Read more
The jobs report was solid today, providing another month of evidence that the recovery is reliably reaching the job market. But relative to the rest of the employment story, the manufacturing sector has settled into a less favorable trend. Though American manufacturing came out of its jobs trough with some vigor back in 2010, over… Read more
September turned in strong jobs numbers as payrolls were up 248,000, surpassing expectations (sort of; see below), and the unemployment rate ticked down to a six-year low of 5.9%. August’s initially disappointing payroll count of 142,000 was revised up to a more respectable 180,000, and the average work-week ticked up to 34.6 hours, a post-recession high… Read more