The Wall Street Journal finally catches up to The First Street Journal

How many times have we been touting the use of the U-6 unemployment rate? From The Wall Street Journal: Forecasters See Slow Progress in Labor-Market Measures Favored by Trump Administration Workforce participation seen rising to 63.3% in 2019 from 62.9% in January By Josh Zumbrun | Updated Feb. 9, 2017 10:22 a.m. ET Broader measures …

Continue reading ‘The Wall Street Journal finally catches up to The First Street Journal’ »

Even after 73 days, The New York Times still doesn’t get it Rather than examine where they went wrong, they doubled down on their pre-election claims

Even with 73 days to ponder things since the election, The New York Times still doesn’t get it: Trump’s Grim View of the Economy Ignores Most Americans’ Reality By Binyamin Appelbaum | January 20, 2017 WASHINGTON — The dismal picture of the American economy President Donald J. Trump painted in his Inaugural Address on Friday …

Continue reading ‘Even after 73 days, The New York Times still doesn’t get it Rather than examine where they went wrong, they doubled down on their pre-election claims’ »

Why Donald Trump won, why the economists have been baffled

Why many don’t feel the economy is great = 6 in 10 Americans don’t have $500 in savings https://t.co/PjThpQdKF6 via @KathrynVasel pic.twitter.com/eaVzNoNuEF — Heather Long (@byHeatherLong) January 12, 2017 6 in 10 Americans don’t have $500 in savings by Kathryn Vasel | @KathrynVasel | January 12, 2017: 8:21 AM ET If you were suddenly hit …

Continue reading ‘Why Donald Trump won, why the economists have been baffled’ »

The December employment figures

Tonight President Obama will get his last “sneak peak” at the U.S. jobs report. Trump gets it next month: https://t.co/XfLL0Myw8c — Heather Long (@byHeatherLong) January 5, 2017 Since U-3 is close to as low as it can go, the real measure is how much U-6 changes. To me, U-6 is the important measure. https://t.co/sBJWK7Sk12 — …

Continue reading ‘The December employment figures’ »

Ford cancels Mexico plant; Ford stock jumps The incoming President is doing what he said he would do, even before he takes office

Darn it! I wish that I’d had more money to buy Ford when the stock was below $2.00! Ford cancels Mexico plant. Will create 700 U.S. jobs in ‘vote of confidence’ in Trump Ford is canceling plans to build a new plant in Mexico. It will invest $700 million in Michigan instead, creating 700 new …

Continue reading ‘Ford cancels Mexico plant; Ford stock jumps The incoming President is doing what he said he would do, even before he takes office’ »

George Jetson’s job: what if there aren’t any jobs in the future?

Do you remember what George Jetson’s job is/was/will be? Mr Jetson is, or will be, I suppose, an employee at Spacely’s Space Sprockets, and his job title is “digital index operator,” which primarily requires him to repeatedly push a single button (or on occasion a series of buttons) on a computer named RUDI, short for: …

Continue reading ‘George Jetson’s job: what if there aren’t any jobs in the future?’ »

The peasants are revolting, Part 3 The patricians simply don't want to understand the plebeians

From the commentary pages of Investor’s Business Daily: Study: The Obama Recovery Is A Myth By Terry Jones | December 7, 2016 President Obama has staked a great part of his legacy on the idea that he skillfully engineered a great recovery from the financial crisis. The Obama-friendly media routinely parrot the idea. But in …

Continue reading ‘The peasants are revolting, Part 3 The patricians simply don’t want to understand the plebeians’ »

The financial markets are doing exactly the opposite of what was predicted if Donald Trump won

From Robert Stacey Stacy McCain: Amid Dow Boom, Liberal Media Gloom Posted on | December 5, 2016 | In the weeks leading up to the Nov. 8 election, Democrats and the media (but I repeat myself) warned of economic disaster if Donald Trump won. “Economists: A Trump win would tank the markets,” was the Oct. …

Continue reading ‘The financial markets are doing exactly the opposite of what was predicted if Donald Trump won’ »

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’ »

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’ »