Economics has long been called the dismal science. The general economic outlook today is indeed dismal, but that doesn’t mean job prospects in the field are. “There is no unemployment among Ph.D.s in economics,” declares John Siegfried, a Vanderbilt University … read more >

(Washington, D.C.) — The outlook for the restaurant industry improved in March, as the National Restaurant Association’s comprehensive index of restaurant activity rose for the third consecutive month. The Association’s Restaurant Performance Index (RPI) – a monthly composite index that … read more >

NEW YORK, April 30, 2009 – A unique new monthly economic indicator introduced today by Dow Jones offers what could be an early signal that the economy may be lifting off its low point but any recovery remains very tentative. … read more >

A commenter writes “…..with Mark running nanny patrol with comments….”Let me clarify:Carpe Diem has been subject to several major spam attacks recently, where somebody posts comments with advertising links on hundreds of older posts at a time. On several occasions … read more >

HT: Dan Mitchell

The chart above displays the decreasing median retirement age for men (data from BLS) over the last half century, from almost 67 years in 1950 to less than 62 years by 2005, a decrease of more than 5 years. During … read more >

James Hamilton (4/9/2009): If subsequent data confirm that the 4-week average of initial claims did indeed reach its peak in the number reported April 2, and if Robert Gordon’s pattern holds up, the recovery that many of us had assumed … read more >

From Table 10 in today’s BEA report on Personal Income: Real disposable income increased 2.3% in March compared to March last year, following increases of 2.8% in January and 2.4% in February (see chart above). This is the sixth consecutive … read more >

It seems intuitive: Increasing the fuel efficiency of automobiles – or anything else that runs on gas – should lower the demand for oil. It was with precisely that expectation that Congress enacted the Corporate Average Fuel Economy (CAFE) standards … read more >