Over the past decade, thanks to fracking, the US has approached self-sufficiency in oil. Since 2008 the trade deficit in oil fell from over half of the overall trade deficit to under 10% in 2016. Surprisingly, however, the massive decline in the oil deficit did not […]
(Dan here…hat tip NDd for this post. Very long and well worth reading) By Lambert Strether of Corrente\ Toward a Jobs Guarantee at the Center for American Progress (!) I had another topic lined up today, but this (hat tip alert reader ChrisAtRU) is so remarkable — and so necessary to frame contextualize immediately — […]
Via Naked Capitalism comes Andrew Bacevich’s piece on What Obsessing About Trump Causes Us To Miss:
Via Upworthy
by New Deal democrat Strong growth in labor force participation is correlated with weak realwage growth Prof. Jared Bernstein has a piece in the Washington Post today (and at his blog) noting that, even with much improved unemployment and underemployment rates, wage growth is still subpar. One item I wanted to add to the conversation […]
by New Deal democrat Scenes from the employment report As I described in my detailed post on the April jobs report, below, almost everything moved in the right direction, and significantly so. Let me lay out a few graphs to show the longer-term stronger and weaker points. In the good news department, the U6 underemployment […]
by Barkley Rosser Messing Up Badly In Korea In many areas where many were worried that President Trump would do this that or the other crazy thing he has held back for one reason or another. But one very serious location where he has recently made a total botch of things has been in Korea, […]
by New Deal democrat April jobs report: a blowout — except (sigh) for wages HEADLINES: +211,000 jobs added U3 unemployment rate down -0.1% from 4.5% to 4.4% U6 underemployment rate down 0.3% from 8.9% to 8.6% Here are the headlines on wages and the chronic heightened underemployment: Wages and participation rates Not in Labor Force, […]
From Wednesday postings: by New Deal democrat Holding Trump to account on manufacturing and mining jobs: setting the benchmarks Tomorrow is the April employment report, and at this point we can begin to hold Trump and the GOP Congress at least somewhat (but not fully for about 3-6 more months) accountable for the trend. For […]
by Robert Waldmann Totally twitty Chait hate I admire Jonathan Chait. In particular, I admire his denunciation of those (e.g. Barack Obama) who criticize “some in my party” without naming names. His rule is that if one criticizes an argument, position or view, one should name and quote someone. Otherwise the temptation to debate straw […]