This tag is associated with 20 posts

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

The Damage Done: Recovery Would Now Require Massive Investment that Won’t be Soon Forthcoming

(Editorial) This content might be viewed as an informed observation based on continued non-recovery of the US economy. Economists have noted that factors of production can deteriorate through years of disuse. This is now likely occurring in the US. Many cite the case of WWII as an example when productivity proved resilient – after more … 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

“Onshoring” of Manufacturing Appears now to be mere Hype

(Analysis) Over the past couple of years, those supposedly in the “know” have spoken about a new phenomenon called “onshoring” – where production is brought back to the US – based on growing American competitiveness in high-skilled manufacturing, allegedly previously undetected inefficiencies from “offshoring”, and new sources of low-cost energy due to “fracking”. A quick … 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

Is Our Economy’s “Openness” Harming American Labor Productivity? [Wonky]

(Analysis) American labor productivity slowed noticeably in the 1970s. When it began to pick up in the ’90s, many observers concluded that the slowdown was a temporary incident due to inflation or supply shocks. Unfortunately, labor productivity again slowed in the early 2000s. This is puzzling to many, and the analysis here is offered as … Continue reading

Average Weekly Earnings Fall in May, Below 2007 When Adjusted for Inflation

(WNY) Data from the US Bureau of Labor Statistics show that average weekly earnings of private-sector employees in the Buffalo-Niagara Falls, NY metro area fell by more than eight dollars to $702.47 over the year in May.1 When adjusted for inflation, average weekly private-sector earnings in May 2013 are below May 2007 by over 5%. … Continue reading

A Challenge to any Well-meaning Policymaker Left in our Democracy

(Editorial) This content might be read as an open letter to our policymakers, who are the victims of receiving only self-serving advice from lobbyists and so-called independent policy experts. Whereas advice from policy research institutes and other ostensibly non-lobbying sources should serve as a guide for policymakers when judging policies lobbied for by big-pocketed special … Continue reading