Archive for the ‘New Posts’ Category

The usually great Catherine Rampell unconvincingly objects to two improved labor standards

August 8th, 2017

I’ve long been a big admirer of Catherine Rampell, but her piece today on “unintended consequences” of pro-worker policies was uncharacteristically unconvincing. She goes after two specific upgrades to existing labor standards: the increase in the federal minimum wage from its current $7.25 to $15 per hour, and the increase in the salary threshold below… Read more

A taxing moment

August 8th, 2017

I wrote a bit on what real tax reform would look like for yesterday’s WaPo, and the NYT editorial board followed up w/ a similar piece today. Both pieces make an important distinction between tax cuts and tax reform. The definition of the former is obvious, and in R’s hands, tends to be regressive cuts… Read more

Jobs day! More solid jobs gains…but wage growth still not responding

August 4th, 2017

The nation’s employment rolls went up 209,000 last month, and the unemployment rate ticked down slightly to 4.3%. The underlying pace of job gains, shown below, suggests a solid, healthy labor market characterized by strong employer demand for workers. That said, wage growth remains remarkably subdued. Taken together, these two facts imply that while we’re… Read more

Yes, there’s a Trump bump in the equity markets. But the market’s a fickle friend, Mr. President, and it doesn’t help your working-class supporters.

August 3rd, 2017

Our Tweeter-in-chief can barely type fast enough to keep up with the stock market. President Trump expressed great excitement about the stock market hitting 22,000 yesterday, and somewhat weirdly touted the fact that the market hit an all-time high; “weirdly” because all-time highs are not unusual. According to CNN, “the Dow has reached a new… Read more