Archive for the ‘New Posts’ Category

Another strong jobs report yields critical insights

November 2nd, 2018

The nation’s payrolls added 250,000 jobs last month, the unemployment rate held steady at a 49-year low, the closely watched labor force participation rate increased, and year-over-year wage growth broke 3 percent for the first time since 2009. Given that inflation has been running a bit short of 2.5 percent, this means workers are finally… Read more

Wage roundup: Amplifying new work on an important topic.

October 23rd, 2018

There’s been some interesting wage analysis in recent days and the findings are worth collecting and amplifying. Some of what follows is technical, but the punchlines are straightforward: –As I’ve always stressed up in these parts, tight labor markets are especially beneficial to lower-paid workers. –Even so, wage inequality remains alive, well, and connected to… Read more

What’s wrong with upside-down Keynesianism?

October 17th, 2018

  Introduction I’ve got a piece in today’s WaPo focusing on how the tax cuts have broken an important, fiscal linkage between budget deficits and the strength of the economy. “When we close on full economic capacity, as is currently the case, tax revenues as a share of the economy should significantly rise, and deficits… Read more