Me old mate Heidi Shierholz has a neat table showing the ratio of unemployment rates from today’s report to those of 2007. What I found revealing was the absence of an obvious pattern among the jobless ratios across age, occupation, education, race, and so on. That suggests, as Heidi underscores, that it’s pervasive weak demand,… Read more
The nation’s payrolls grew by a greater-than-expected 175,000 last month, while the unemployment rate ticked up slightly to 6.7%, according to today’s jobs report from the Bureau of Labor Statistics. In a report that has both good and bad news for the American workforce, February payrolls appeared to shake off analysts’ cold-weather concerns, adding a… Read more
As many have stressed, one piece of the President’s budget that could actually get somewhere–not anytime soon, but someday–is the proposal to expand the part of the EITC that goes to childless adults. Here’s a bit of 411 on that idea over at the NYT Economix blog, with a pretty illuminating graph IMHO.
And like moth-to-flame, I rev up the hamsters, blindfold the chimp, and forecast the payroll numbers. My model spits out 140k for total payrolls and 150k for private, so I’m a bit below the consensus shown below. As always, I predict the unemp rate to tick up, down, or sideways. Slightly more seriously, here’s a… Read more
There are many ways in which DC talks past the rest of the nation, and one of them is on the impact of global trade on the economic lives of our citizens. If you go around the country and talk to people about the economic struggles they face, many will identify global competition as a… Read more