Posts by mark price

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.

Morning Must Reads: Red Tape Is for the Unlucky In Pennsylvania

Click To EnlargeAfter signing legislation complicating the determination of eligibility for unemployment insurance, the Corbett administration is laying off frontline workers in Philadelphia who help recently unemployed workers determine their eligibility.

Morning Must Reads: Got No Evidence? No Problem Just Make It Up!

I hope you had a relaxing weekend.

The Philadelphia Daily News does an excellent job this morning laying out the facts about the Supplemental Nutritional Assistance Program, more commonly known as food stamps.

Morning Must Reads: Elected Officials Are Supposed To Do No Harm

The New York Times has a good editorial this morning based on analysis by Josh Bivens and Heidi Shierholz at the Economic Policy Institute on just how much state and local budget cuts have hurt job growth. Bottom line, the editorial says, Congress could lower the unemployment rate substantially by providing more federal aid to states.

Morning Must Reads: Trust Us, Would We Lie To You Again and Again and Again...

Reuters reports on a poll of Wall Street executives on the subject of honesty.

A quarter of Wall Street executives see wrongdoing as a key to success, according to a survey by whistleblower law firm Labaton Sucharow released on Tuesday.

Morning Must Reads: Another Austerity Budget, Blue-Collar Layoffs in Philly & More Paperwork!

Vacations are great, but it is good to be back! While I was away, European leaders met to take what they hoped was decisive action to stem rising borrowing costs for Spain. 

And once again borrowing costs in Spain were on the rise Monday (paywall). With the Spanish economy once again shrinking, European leaders are giving the country more time to reduce its budget deficit but are still insisting on spending reductions in the face of a shrinking economy.