Twitter econ asked for my historical ECI series, so here you go. See tab “finaltbl.” For columns B and C–pvt industry–I do a small splice re older data which you can track through the spreadsheet. For cols D & E–these are “all civilian” and are the series we use for our wage mashup–I don’t bother… Read more

I got lots of interesting feedback on a piece I wrote for Vox about long-held but empirically wrong assumptions in some key areas of economics, assumptions that have been asymmetrically harmful. That is, their costs consistently fall on those with low- and moderate incomes and their benefits help the wealthy. Some argued that I didn’t… Read more

One sure way to tell in someone is making a biased argument is showing up in various statements by those who oppose the proposal to raise the minimum wage. I wanted to be sure to elevate this dastardly ploy, as it’s a tell that someone is trying to win an argument based on their bias,… Read more

It’s long been understood by anyone trying to assess the labor market that the unemployment rate is, by itself, not up to the task. Most importantly, it leaves out those not looking for work, but it’s also not adjusted for demographic change, nor does it factor in those who are working fewer hours than they’d… Read more

When someone seeking confirmation to high office has a paper trail fraught with positions antithetical to their confirmation, their theme song quickly becomes Shaggy’s It Wasn’t Me, as they flip and flop to disavow their earlier convictions. The most recent purveyor of this strategy is Judy Shelton, one of President Trump’s most recent likely nominees… Read more