For the second month in a row, U.S. auto sales came in much higher than the consensus expected in February and reached a four-year high of 15.1 million units at a seasonally-adjusted annual rate (see chart above).  Despite higher gas … read more >

From The Daily: “While the Senate barbershop is federally subsidized, the House barbershop is a private business. Its three employees, one of whom is part time, are independent contractors. The House barbershop was privatized in 1994, a decision that House … read more >

Weekly jobless claims fell last week to 354,000 (four-week average), dropping to the lowest level since mid-March 2008 almost four years ago, in another sign of improvement in the U.S. labor market.  This marks the seventh consecutive weekly decline in … read more >

The Economist — “The past four years have seen an economic crisis coincide with a food-price spike. That must surely have boosted the number of the world’s poor (especially since food inflation hits the poor hardest)—right? Wrong. New estimates of … read more >