Posts by mark price

Morning Must Reads: 40 Million American Workers Get No Paid Sick Leave

The New York Times comes out strongly in favor of paid sick leave legislation in New York City. Looking at you, Philadelphia.

Morning Must Reads: It's Jobs Day

As it is the first Friday of the month. that means we get new data today from the Bureau of Labor Statistics on national employment in June. The official release is at 8:30 a.m.

Morning Must Reads: This Isn't The Dual Mandate You're Looking For

The Federal Reserve, which through its control of the money supply is in charge of one of the key levers for regulating the pace of economic growth, is guided by a dual mandate over inflation and unemployment. If consumer prices begin rising too fast, the Federal Reserve will act to slow economic activity. Likewise, when unemployment rises, the Federal Reserve will act to boost economic growth.

On Wednesday, the Federal Reserve acknowledged that the economy appears to be growing more slowly than anticipated but opted to take no steps to boost growth. This decision elevated concern about the potential of future inflation over the currently high U.S. unemployment rate of 8.2% (Pennsylvania's rate is 7.5%).

Morning Must Reads: The End Is Nigh for General Assistance

As the Pittsburgh Post-Gazette notes this morning, Pennsylvania's General Assistance program ends today. 

Morning Must Reads: Poverty In The Midst of Plenty

Wide swaths of Americans face the same problem today, too few jobs that pay a decent living. From Sunday, Peter Edelman discusses the lack of good jobs and its relationship to poverty.

The June Labor Market in Pennsylvania (Warning: Wonky)

Last Thursday, the Pennsylvania Department of Labor and Industry (L&I) reported that unemployment edged up slightly to 7.5%, while nonfarm payrolls grew at a healthier pace, adding 14,600 jobs in June (here is the graphy summary form L&I).

Morning Must Reads: The Tax Foundation Has It Both Ways

Paul Krugman catches the Tax Foundation making a bizarre claim about income inequality and in the process reminds us all about the organization's poor track record on the facts.

Morning Must Reads: New Olympic Event, Economy Shrinking

The idea of expansionary austerity is that in the midst of high unemployment, the public sector can reduce spending and unleash an explosion of economic growth that leads more quickly to recovery (Dean Baker explains here).

The United Kingdom has been putting this idea into practice since 2010 when a new government was elected. Today, we got more results on how that is working out: the UK economy has now shrunk for three consecutive quarters and is now smaller than when the current government took office.

Morning Must Reads: The Jobs Shortage

You hear us say it a lot. The number one problem in the economy is a lack of job openings, not a mismatch between the skills workers have and the skills employers need. For sure, there is always some skill mismatch in the economy, but there is no evidence that the mismatch today is greater than in the past. There is, however, lots of evidence that there are not enough job openings. 

Morning Must Reads: We Are The Chamber!

In case you missed it, Patriot-News columnist Donald Gilliland eviscerates the U.S. Chamber of Commerce for using suspect job numbers in a Marcellus gas public relations campaign. To loyal readers, this is old hat, but for our new regular readers, let me take a moment to explain the two kinds of job numbers available on Marcellus gas extraction.