The productively disinflationary American worker

August 9, 2012

Strong productivity may be good for an economy’s long-term growth prospects. But it’s not always great for workers in the near-run, since it literally means firms are squeezing more out of each employee. In reality, rapid productivity growth can make it harder for workers to get new jobs or bargain for raises.

Soft underbelly to firmer July jobs report

August 3, 2012

After a string of very weak figures in the second quarter, the July employment figures prompted a collective sigh of relief that the U.S. economy was at least not sinking into recession. That doesn’t mean the news was particularly comforting. U.S. employers created a net 163,000 new jobs last month, far above the Reuters poll consensus of 100,000. Still, the jobless rate rose to 8.3 percent.

July non-farm payrolls to disappoint a fifth month in a row?

August 3, 2012

U.S. non-farm payrolls have come in below the Reuters Poll consensus for the past four months, the longest streak since an eight-month period in 2008-09 when the U.S. was in the depths of recession and, at one point, losing more than half a million jobs a month.

U.S. payrolls ‘wild card’: public school teachers, employees

August 2, 2012

The “big wildcard” in making July payroll projections is the size of the swing in public school teachers and other school workers.

Hudson Yards and New York’s love-hate relationship with Mayor Bloomberg

July 18, 2012

(Updates with background on Fiscal Policy Institute, details on city bonds)

New York City’s Hudson Yards project – a $12 billion transformative development slated for Manhattan’s West Side – embodies several aspects of the Bloomberg administration’s strategies that infuriate critics while delighting boosters.

Fed doves ‘will not be patient’

July 2, 2012

Ellen Freilich contributed to this post

The Fed did the twist. Will it shout as well? There has been some debate among economists about whether the U.S. central bank might launch a third round of outright bond buys or QE3 given that it just prolonged Operation Twist.

U.S. jobs data marks gloomy hat-trick for economists

June 1, 2012

By Sarmista Sen and Sumanta Dey

 

Economists predicting jobs growth in the United States, or rather the lack of it, scored an unfortunate hat-trick on Friday – vastly overestimating the rise in payrolls for three consecutive months.

Asian Americans hit hardest by long-term unemployment

May 23, 2012

Asian Americans have the highest rate of long-term joblessness of any ethnicity in the United States, according to a report from the Economic Policy Institute, a liberal think tank in Washington.

Jobs or inflation — Is the Fed distracted?

May 9, 2012

The Federal Reserve doesn’t get much love from Washington these days but it did receive a rare bit of political backing on Wednesday as Democrats defended its role in promoting full employment as well as stable prices.

An upward bias in jobless claims revisions

April 20, 2012

Weekly data on applications for unemployment benefits have gained renewed importance since a weak March payrolls number left economists wondering whether a tentative labor market recovery was about to cave again. The last two weeks’ readings were just soft enough to leave investors thinking the country’s unemployment crisis may not be healing very quickly.