Archive for the ‘New Posts’ Category

Links, and a musical gift

December 18th, 2017

I contributed to this symposium on productivity growth in the The International Economy. I look forward to reading all the entries–they’re mercifully short–but I enjoyed mine! Boy, this tax debate has really been terrible. There’s been endless exaggerations and lies about trickle-down, growth effects, while evidence, facts, and the historical record has been kicked aside… Read more

Catching up on links

December 12th, 2017

A number of pieces you might want to check out: –I use the Illinois gubernatorial election, dominated by candidates with $ to burn, to raise concerns about money in politics: are these elections or auctions? –The Trump admin is stealthily taking down the guardrails intended to regulate against the shampoo economy: bubble, bust, repeat. Over… Read more

Jobs report: Another strong month as payrolls settle into solid trend, but wage growth still underwhelms

December 8th, 2017

The US labor market continues to add jobs at a strong clip, as robust consumer demand is generating a virtuous cycle of job growth, increased weekly hours, wage growth (though see ongoing caveats below), and hiring. Payrolls were up by 228,000 last month, above expectations for about 190,000. The unemployment rate held steady at 4.1… Read more

What’s up with productivity growth and what does it mean?

December 6th, 2017

I’ll be brief, because first and foremost, the recent uptick in productivity growth that I’m about to show you may be statistical noise. These are jumpy data. But in case this sticks, I did want to lay down a marker and tout some potential implications. This morning’s revised productivity report has output per hour up… Read more