Tale of two charts

With December data recently out.  More and more workers in Pittsburgh, and another new all-time high in the size of the regional labor force. Bigger observation is that the rate of labor force growth here is not slowing down either. In fact, for December it was the largest year over year increase in the region’s labor force in . . . → Read More: Tale of two charts

Men, migration

Just for the infographic in itself this is worth looking at from the NYT last week: A migration of unmarried men.  Pennsylvania does not seem to show up in those migration stats at all.  It makes me wonder about a lot of things.  Was there some vast untapped labor resource in Pennsylvania for these . . . → Read More: Men, migration

Welcome to Higher Taxes

It’s apparently unpleasant:

American workers are opening their first paychecks of the year and finding an unpleasant surprise: The government’s take has gone up.

A temporary cut in Social Security withholdings gave Americans hundreds of extra dollars to spend over the past two years. But Congress allowed that break to expire during the wrangling . . . → Read More: Welcome to Higher Taxes

Economic Events on January 18, 2013

At 9:55 AM Eastern time, Consumer Sentiment for the first half of January will be announced.  The consensus is that the index will be at 75.0, which would be an increase of 2.1 points from the level reported in the second half of last month.

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Johnstown forever

So if there is any doubt what drives the stats behind this article today: Full home ownership here is nation’s best, it really is pretty simple.  Of those who did not leave Pittsburgh, we have not had many folks move around.  Likely for many depressed home values prevented the type of equity appreciation that . . . → Read More: Johnstown forever

Economic Events on January 17, 2013

At 8:30 AM Eastern time, the U.S. government will release its weekly Jobless Claims report. The consensus is that there were 887,000 new jobless claims last week, which would would be 26,000 more than the previous week.

Also at 8:30 AM Eastern time, the Housing Starts report for December will be released.  The consensus . . . → Read More: Economic Events on January 17, 2013

That Which Is Unseen

Some economic news:

This morning’s jobs report shows that the economy’s subsidized private sector (industries like health care services that receive big government subsidies) is back as a major source of new hiring.

If a stronger but sustainable U.S. recovery depends on reinvigorating industries not heavily dependent on government largesse, then this hiring out-performance . . . → Read More: That Which Is Unseen

Economic Events on January 16, 2013

The Mortgage Bankers’ Association purchase index will be released at 7:00 AM Eastern time, providing an update on the quantity of new mortgages and refinancings closed in the last week.

At 8:30 AM Eastern time, the Consumer Price Index report for December will be released.  The consensus is that CPI was unchanged last month, . . . → Read More: Economic Events on January 16, 2013

Taxes Are Going Up

Quelle surprise:

The tax this year will increase by two percentage points, to 6.2 percent from 4.2 percent, on all earned income up to $113,700.

Indeed, for most lower- and middle-income households, the payroll tax increase will most likely equal or exceed the value of the income tax savings. A household earning $50,000 in . . . → Read More: Taxes Are Going Up

Economic Events on January 15, 2013

At 7:45 AM Eastern time, the weekly ICSC-Goldman Store Sales report will be released, giving an update on the health of the consumer through this analysis of retail sales.

At 8:30 AM Eastern Time, the Empire State manufacturing index for January will be released. The consensus is that the index value will be 0, . . . → Read More: Economic Events on January 15, 2013