Tag: "employment"

The Devil in the Details of Today’s Employment Report

146,000 net new jobs were created in November according to the establishment survey of payroll employment. However, 49,000 were taken off the totals reported for the previous two months. If I were a conspiracy theorist, which I’m not, I would point out that the revisions of previous months were usually positive before the election with […]

Employment Dynamics–Gross Job Gains and Losses

The employment numbers we wait for on the first Friday of most months are net changes. How much did employment grow? These small net amounts obscure much of the churn in the labor market—the gross number of new jobs created minus the gross number of new job losses. It is worthwhile occasionally to review these […]

Supply Side Employment Growth

Some of my supply side friends are probably perturbed with me for my view that, while their model may be appropriate for normal times, Keynes is relevant during a period of inadequate demand. In fact, I view his General Theory as a guide for getting out of a recession or liquidity trap. The focus now […]


Undesirable and Unnecessary   Protectionism is creeping insidiously into the rhetoric of financial TV.  "Taxpayer money should be spent to stimulate the domestic economy, not foreign economies."  "We should be creating domestic jobs, not foreign jobs." This slippery slope to protectionism is undesirable. It won't work. It will invite retaliation. However, it's not only undesirable, […]

Employment to Unemployment

No Silver Lining Here  Adverse trends in the labor market accelerated in January. Payroll employment declined 598,000, bringing the total decline in the past 13 months to 3.6 million. About half of that total came in the past 3 months. The unemployment rate, calculated from the separate household survey, rose to 7.6 percent in January-up […]