Job Market Monitor
Economy of the United States
US Economy in Q1 – Shrunk by most in five years
The U.S. economy contracted at a worse pace than previously estimated in the first quarter, marking its sharpest pullback since the recession ended five years ago. Gross domestic product, the broadest measure of goods and services produced across the economy, contracted at a seasonally adjusted annual rate of 2.9% in the first three months of … Continue reading
US Job Market Nearly ‘In Recession’
US Job Market Nearly ‘In Recession’ “…Some economists and analysts now wonder if the BLS seasonal adjustments are somehow off a bit. If the financial crisis and recession mucked with the seasonal ebb and flow of the economy, then the adjustments that BLS makes for its monthly reports might be a bit skewed. Some jobs … Continue reading
The real structural problem is in our political system writes Krugman
Many pundits assert that the U.S. economy has big structural problems that will prevent any quick recovery. All the evidence, however, points to a simple lack of demand, which could and should be cured very quickly through a combination of fiscal and monetary stimulus. No, the real structural problem is in our political system, which … Continue reading
UPDATE – Is american manufacturing in crisis?
As pointed out by Calculated Risk, industrial production is still 4.1% below the pre-recession peak. And, from the job market perspective, things are worse. Manufacturing’s decline in jobs is part of a complicated picture Is manufacturing in crisis? That’s a question on the minds of many policy makers. Even President Barack Obama talked about it in … Continue reading
Intellectual Property-Intensive Industries Account for 40 Million Jobs to US Economy
The U.S. Commerce Department has released a comprehensive report, entitled “Intellectual Property and the U.S. Economy: Industries in Focus,” which finds that intellectual property (IP)-intensive industries support at least 40 million jobs and contribute more than $5 trillion dollars to, or 34.8 percent of, U.S. gross domestic product (GDP). “This first of its kind report shows … Continue reading
U.S. CONGRESSIONAL BUDGET OFFICE | How To Respond to Persistently High Unemployment
The rate of unemployment in the United States has exceeded 8 percent since February 2009, making the past three years the longest stretch of high unemployment in this country since the Great Depression. CBO projects that the unemployment rate will remain above 8 percent until 2014. The share of unemployed people who have been looking … Continue reading
News | Jobless Claims Reach New Four-Year Low
“New claims for unemployment benefits fell to a new four-year low in the United States last week, according to a government report. A separate report confirmed the American economy expanded at an annual rate of 3 percent late last year” reports the NYT. ______________________________________________________ Unemployment Insurance Weekly Claims Report (Excerpts from the Press Release) SEASONALLY ADJUSTED … Continue reading
U.S. Treasury Notes | The U.S. Economy in Charts
Earlier this month, in testimony before Congress on the President’s Budget, Secretary Geithner provided an update on the nation’s economic and financial health. Today, we offer you a more in-depth look – in charts – at the data behind many of the key points he discussed and look forward to sharing similar briefings in the … Continue reading
Help Wanted: Skilled Manufacturing Workers
The U.S. economy is gathering momentum and the key driver is manufacturing. Not only is our industrial sector growing, but after more than a decade of losses in manufacturing jobs, we are actually going in the other direction. We added 50,000 manufacturing jobs in January on top of 32,000 the month before. This is a … Continue reading
White House predicts 2 million more jobs in 2012 – Feb. 17, 2012
The United States economy is on the road to recovery, the White House said Friday, with stronger job growth expected this year. But income inequality and Europe’s debt crisis could still pose challenges, according to a report released by President Obama’s Council of Economic Advisers. Before Obama even took office, America had lost 4.4 million … Continue reading
US Government has been a significant drag on growth for more than a year now – NYT
The chart here offers one of the better recent snapshots of the American economy that you will find. The blue line shows the rate at which the government — federal, state and local — has been growing or shrinking. The red line shows the same for the private sector. Quarterly change at seasonally adjusted annual … Continue reading
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