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

Anecdote vs. Data

Let me make some introductions.  Data meet news, news meet data.

I just caught this headline.. but the Patriot News had article over the weekend: Marcellus Shale industry brings ‘tsunami of jobs’ to Pa.. which really was more of an anecdotal story focused on a woman getting a job in the drilling industry here . . . → Read More: Anecdote vs. Data

Can we at least agree on an order of magnitude?

Well, in Ohio there is certainly more debate over the economic impact of shale gas development. No, that isn’t right, there is debate here, but I can’t say I’ve seen a headline this blunt in Pennsylvania.

See the Cleveland Plain Dealer over the weekend: Shale gas will not create 200,000 Ohio jobs by 2015, . . . → Read More: Can we at least agree on an order of magnitude?

The Fallacy of Stimulus Plans

I’d like to revisit and expound upon a thought I had in yesterday’s post on forgiving student loans:

Can we get rid of this whole nonsensical stimulus thinking? All money circulates. Ceteris parabis, the money will be spent at some point.

I wanted to explain this more thoroughly yesterday, but I was pressed for . . . → Read More: The Fallacy of Stimulus Plans

Fixing American Unemployment

This might be a problem:

“Of jobs created in Texas since 2007, 81 percent were taken by newly arrived immigrant workers (legal and illegal),” says the report from the Center for Immigration Studies, a group that advocates reduced levels of both legal and illegal immigration. The report estimates that about 40 percent of the . . . → Read More: Fixing American Unemployment

A Marcellus Shale Experiment

So experiment is not quite the right word.   Let’s call this a public exercise.

A little while ago a kerfuffle erupted over some economic stats related to the job creation of Marcellus Shale related industries in Pennsylvania.   The state came out with a report that mentioned there were 72 thousand ’new hires’ related to Marcellus activity.

. . . → Read More: A Marcellus Shale Experiment

Jobs Uber Alles

Can I nominate the most underappreciated economic story from last weekend. In the Valley News Dispatch is this detailed piece: Pittsburgh Mills may be attracting shoppers, but may take years to reap ‘full potential’

Which would have a host of great essay questions for students of economic development.  In there is a line about how local . . . → Read More: Jobs Uber Alles

Job Openings On The Rise; Up 44% Since July 2009

Businesses and government advertised nearly 3.4 million jobs at the end of October, up about 12 percent from the previous month, the Labor Department said Tuesday in its Job Openings and Labor Turnover survey.

That reverses two months of declines and is the highest total since August 2008, just before the financial crisis intensified.

. . . → Read More: Job Openings On The Rise; Up 44% Since July 2009

Income Tax Cuts, Unemployment Benefits, and Social Security Relief

A deal appears near with President Barack Obama and congressional leaders. The pending bill will essentially give U.S. taxpayers a pay raise which will in turn pump money into the recovering economy almost immediately. The deal will also boost the creation of hundreds of thousands of jobs over the next two years.

The big . . . → Read More: Income Tax Cuts, Unemployment Benefits, and Social Security Relief

Obama Jobs Plan Advances

President Barack Obama pressed forward with his job-creation proposals on Tuesday. Specifics included a hiring tax credit to businesses and other stimulus components. Further, those stimulus programs that he believes have worked best thus far, he would like to extend or amplify.

Thus far the existing stimulus efforts have taken an abysmal rate of . . . → Read More: Obama Jobs Plan Advances