Relevant and even prescient commentary on news, politics and the economy.

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Are Earnings Rising or Stagnant?

…quick look in 2010, lifted from his email this Saturday: This is not an easy subject and there is no “right” answer. A few comments. The average hourly earnings data…

Following THIS POST using census data, Tim Worstall suggested the data include more than income. He cited the Tax Foundation study as an example of a study that attempted to…

BLS, Businessweek, and phantom GDP

…(http://www.bls.gov/); trade data from the Census Bureau (http://www.census.gov/); and industry output data from the Bureau of Economic Analysis (http://www.bea.gov/). It must be stressed that these signs are not conclusive—but they…

Housing: Slowing, but Not Crashing

The Census Bureau report released this morning showed January New Home Sale were still strong. In fact, on a Not Seasonally Adjusted basis, January 2006 was the strongest January on…

Consumption: Full Steam Ahead

The American consumer has not yet showed any sign of slowing down, despite higher interest rates and slower house price appreciation. Today’s release of January retail sales by Census reported…

Education and Earnings

…is widespread and massive. The chart below (source: Census) provides some measures of how more education is rewarded in the labor market. Clearly, getting more education means that you will…

A Few Notes on Trade

…I’ve plotted real median household income against this measure of imports. Source: Median income figures from Census. Since Census data only shows take-home pay, I’ve added benefits to this series…