When an economy is humming, there are lots of job openings and low unemployment. When the economy is malfunctioning, there are few openings and unemployment is high. The regular relationship between job openings and unemployment is called the Beveridge Curve. If … read more
Many more Americans are getting Social Security disability payments today than before the Great Recession, nearly two million. But that upturn also reflects long-term trends. About 5.4% of the civilian workforce ages 25 to 64 are on disability insurance, according … read more
The economic news out today shows retail sales expanded, in the words of JPMorgan, “solidly” in April, with figures for both February and March revised higher. And last week, the four-week average of jobless claims fell 6,000 to 33,700, the lowest … read more
A common critique of Japan’s monetary policy experiment is that it’s just a repackaging of old-fashioned “beggar-thy-neighbor” policy. Print lots of money, devalue the currency, and boost exports. And with the yen breaking through the 100-to-the-dollar barrier, the critique isn’t … read more
After-tax corporate profits and stocks are doing great: Jobs not so much: As I noted earlier, the bulk of the drop in the labor force participation rate seems to be the result of weak labor demand. And why is demand … read more
Also of Interest
The IRS and big government
The expanding Internal Revenue Service scandal could hardly be any more Drudgeriffic.
Ferguson's blooper on Keynes
It was an unusually feisty weekend in corners of the blogosphere and Twitterverse where dwell economists and economic-policy wonks.
The upside of economic pessimism
The disappointing first-quarter GDP report dashed hopes that 2013 might prove a breakout year for the U.S. economy.