This tag is associated with 12 posts

Estimate for Manufacturing Employment in Buffalo Area Indicates Improvement Since Recession Depths

(WNY) Officially released data for the Buffalo-Niagara Falls, NY, metro area suggest continuation of a decades-long trend of decline in manufacturing employment. This negative trend is possibly weakening, though, as an estimate for the overall number of people employed in manufacturing during 2013 on an annual basis is higher than a simple trend estimate would … Continue reading

How Sweet It Is! Approaching a Recovery Milestone

(Analysis) This (final) quarter of 2013 and the first quarter of 2014 will probably bring reports of many “real” measures of economic performance back to par with levels achieved before the recession of 2008-9 (see graph at top left). This should be cause for some celebration, coming after about 6 years of continuously depressed measurements … Continue reading

Where’s the Oft-cited Local Renaissance in Manufacturing Employment?

(Buffalo, NY) Local politicians, business persons, and policy wonks have set their sites on (advanced) manufacturing as a pillar for local economic growth [pdf] – including growth of good-paying jobs. Unfortunately, wishful thinking tends to trump hard assessment of the facts. Whereas there has been an attempt to claim that employment in manufacturing is on … Continue reading

The Neglected and Forlorn American Worker

(Analysis) With hiring only still at anemic levels since the onslaught of the 2008-9 recession, many workers have simply given up hope of (ever?) finding a decent job, and they have left the labor force. Comparing a projection of the labor force participation rate from a study done by the BLS in 2002 with the … Continue reading

Is There a Growing Hole in the Official Economy? [Wonky]

(Analysis) Since the large job loss of the 2008-9 recession, reported measures of output and employment in the US economy remain very subdued. Good measures for labor utilization show no employment recovery of this production factor. Output remains depressed as well. Both measures strongly exhibit a (permanent?) shift downwards from the 2008-9 recession. An important … Continue reading

The Deathblow to Automatic Stabilizers

(Analysis) A true free-market revolution began with the Administration of President Ronald Reagan (R). The notion that the root of all problems in the US could be attributed to government became a rallying cry among a new breed of populists. This anti-government populism thrives today in the Tea-Party movement. It is very likely responsible for … Continue reading

New JOLTS Report Shows More of the Same: No Change to Employment Situation

(Analysis) The BLS released its report of analysis about the Job Openings and Labor Turnover Survey (JOLTS) today. There are some snippets from the news release below. No surprises, really – just more of the same. “The number of job openings in May was 3.8 million, little changed from April.” “The number of job openings … Continue reading

ADP Employment Report Shows More of the Same

(Analysis) Today’s employment report from the ADP Research Institute continues to show that private-sector employment is still below pre-recessionary levels, four years after the accepted end of the recession of 2008-9. This measure of lackluster economic performance does not even factor in an increase to the US population since the recession. While employment by service-providing … Continue reading

Why Many Say the “Real” Economy is Still in Recession

(Analysis) The keepers of recession dates, the NBER, declared the second quarter of 2009 to be the final period of recession following the financial crisis of 2007-8. Every quarter since, observers try to interpret lackluster economic performance in order to show how our economy is improving. If you are reading this from home while trying … Continue reading

Buffalo Area’s Construction Employment Not Improving With Slow Housing Recovery

(WNY) Even as the US slowly recovers from the housing bust brought about by the collapse of home prices beginning in 2006-7, the employment situation for the Buffalo area’s construction industry is not improving. Whereas both NYS and the US as a whole have posted some pretty good 12-month percent changes in construction employment lately, … Continue reading