The growth of bad jobs: a look at the official unemployment numbers Real unemployment is reflected in U-6, not the official U-3 numbers

From The Wall Street Journal: U.S. Nonfarm Payrolls Rose 178,000 in November; Unemployment Rate Falls to 4.6% Federal Reserve is likely on track to raise interest rates later in December By Jeffrey Sparshott | Updated Dec. 2, 2016 12:03 p.m. ET WASHINGTON—U.S. employers hired at a steady clip in November while the unemployment rate fell …

Continue reading ‘The growth of bad jobs: a look at the official unemployment numbers Real unemployment is reflected in U-6, not the official U-3 numbers’ »

China blusters, but it exposes their weaknesses

From my favorite CNNMoney reporter: China warns Trump: Good luck bringing jobs back to U.S. China appears to be sending a message to President-elect Donald Trump: Good luck competing against us on manufacturing. by Heather Long | @byHeatherLong | November 30, 2016: 2:11 PM ET Mere hours after Trump, Vice President-elect Mike Pence and Carrier …

Continue reading ‘China blusters, but it exposes their weaknesses’ »

How Donald Trump can help the American working class

From The Wall Street Journal: Small Businesses Lament There Are Too Few Mexicans in U.S., Not Too Many As the labor market tightens and the population of undocumented immigrants shrinks, employers in low-skill industries such as hospitality, construction and agriculture scramble to fill jobs By Miriam Jordan and Santiago Pérez | Updated Nov. 28, 2016 …

Continue reading ‘How Donald Trump can help the American working class’ »

The Wall Street Journal and a poor story on immigration

It was the last line that caught my eye: Grinning, (Yves Nzosaba) said he was about to purchase a Ford Mustang, the iconic American car. Ms. Caplice scrunched up her face. “That’s not good in the snow!” she said. Don’t I know it! My darling bride (of 37 years, 5 months and 28 days) used …

Continue reading ‘The Wall Street Journal and a poor story on immigration’ »

What will the next recession be like?

First of all, when will we have the next recession? When Will The U.S. Have Its Next Recession? Posted February 26, 2015 by Ben Carlson From 1836-1928 the U.S. averaged a recession every 2.1 years. This included seven depressions (they were actually called panics back then) that led to an average contraction of 29% in …

Continue reading ‘What will the next recession be like?’ »

The Patricians and the Plebeians in today’s economy The elites aren't feeling today's economy in their bones, the way that the commoners do

We have previously noted the career of Yahoo! Chief Executive Officer Marissa Mayer, and things have not gotten better since the buyout deal with Verizon. From The Wall Street Journal: Yahoo Core Revenue Drops Again Internet firm, looking to close its deal with Verizon, also posts earnings that top analysts’ expectations By Deepa Seetharaman | …

Continue reading ‘The Patricians and the Plebeians in today’s economy The elites aren’t feeling today’s economy in their bones, the way that the commoners do ’ »

More pearl-clutching hypocrisy from the left What's sauce for the gander is apparently not an acceptable sauce for the goose!

From The Wall Street Journal: Big Labor Unions Step Up Presidential-Election Spending Funding to outside political groups increases 38% as part of an effort to boost Democratic nominee Hillary Clinton By Brody Mullins, Rebecca Ballhaus and Michelle Hackman | Updated Oct. 18, 2016 9:25 a.m. ET PHILADELPHIA—U.S. labor unions are plowing money into the 2016 …

Continue reading ‘More pearl-clutching hypocrisy from the left What’s sauce for the gander is apparently not an acceptable sauce for the goose!’ »

Do as I say, don’t do as I do!

From The Wall Street Journal: Donald Trump’s Use of Foreign Steel Undercuts a Major Campaign Theme Candidate calls for boosting U.S. steel industry but his buildings are often built with cheaper imports By John W. Miller | October 14, 2016 2:41 p.m. ET PITTSBURGH— Donald Trump has made revitalizing manufacturing—specifically the U.S. steel industry—a core …

Continue reading ‘Do as I say, don’t do as I do!’ »

Economics 101: When more low-skilled refugees are accepted, more low-skilled Americans see their wages decrease

We asked previously why we should bring in 110,000 Syrian refugees when we already have a too-high U-6 unemployment rate. Now this from The Wall Street Journal: What Happens to Wages When Refugees Arrive? More Than You Might Think An influx of refugees can hurt the economic prospects of natives with similar skills, but benefit …

Continue reading ‘Economics 101: When more low-skilled refugees are accepted, more low-skilled Americans see their wages decrease’ »