How Presidents Performed on the Labor Front

Interesting data analysis from the Wall Street Journal. This is interesting, despite the obvious flaw of giving too much credit and blame to each president for economic conditions during that term. That said, it is still intriguing . . .     click for ginormous graphic Source: Wall Street Journal  

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Zombie Reagan Jobs Lie Eats Moore’s Brain

@TBPInvictus here: I thought I’d put the “Reagan-created-one-million-jobs-in-one-month” lie to bed a long time ago. I’d like to think I was the first to expose it for the lie that it is. (See here, here, and, most notably, here.) Sadly, not so much. Stephen Moore, who apparently may be up for a high profile gig…

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Eight Years of Labor Market Progress and the Employment Situation in December

Eight Years of Labor Market Progress and the Employment Situation in December Jason Furman, Chairman of the Council of Economic Advisers White House blog, JANUARY 6, 2017           Employment grew at a solid rate of 156,000 jobs in December as the longest streak of total job growth by far on record…

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The puzzle of real median household income

The graph above shows two often-reported series that look at a measure of income adjusted for inflation and population: real median household income and real per capital GDP. They should be similar, but there are quite a few differences. For example, median household income has stagnated for about two decades while per capita GDP has…

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Thanksgiving Retail Data Starts to Trickle in…

On Monday, I cast doubt on the many stories about how Black Friday retail sales were off to a disappointing start. This is an important story because retail is such a critical part of the U.S. economy, and because such a large share of the industry’s sales occur during the roughly five weeks between Thanksgiving and…

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Compare Recessions and Recoveries via Employment and Output

This tool from the Minneapolis Fed is crazy cool:   Change in US Employment: Recoveries Source: Minneapolis Fed   If you go to the site there are all sorts of interesting things you can do . . .

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Tales of Black Friday’s Demise Have Been Greatly Exaggerated…

Nov. 25 marked Black Friday, which once was considered the beginning of the holiday shopping season, though the start these days is even earlier thanks to endless hype by the retailing industry. News reports today are filled with tales of increased traffic, decreased spending, tremendous discounting. As was widely reported, sales fell because of deep…

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Dangers of a Fact-Free America

@TBPInvictus here: When did America lose interest in reality? There was a time that economic releases from government agencies – Bureau of Labor Statistics, Bureau of Economic Analysis, Census Bureau, Department of Labor, etc., etc. – were deemed reliable. They were reliable because they were derived using credible collection methodologies and statistical analysis by folks…

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What a NILF!

@TBPInvictus here. At some point in the not too distant past, we bid adieu to the quaint notion of taking government statistics at their face value. It may have begun with a site like ShadowStats, which purports to demonstrate that all manner of government releases are nowhere near what their true values are. This, of…

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