9:08 AM, Oct 30, 2014 • By GEOFFREY NORMAN
The indicators for the economy are looking good. For those who view the world through a political prism, this news may be coming too late to help the president and his party in the mid-terms. And for those whose view is long and wide, the skies are not entirely blue. There is the matter of labor force participation, which is historically low. Also home ownership, which is also in a deep trough. And interest rates will soon be rising. Still …
Third quarter GDP rose by 3.5 percent, as reported by Bloomberg. A good number, and one that exceeded expectations of 3.1 percent. (Skeptics may point to the impact of government spending on that number but a win is a win.)
And: First time claims rose very modestly, keeping the running average at a 40-year low. A good jobs trend may not cure all ills, but it makes many of them more bearable.
Another dominating trend in economic news is the declining price of oil. This, of course, shows up for the average person when filling up to make the commute. Lower oil prices are a kind of increase in discretionary spending since gasoline for the car is sort of like milk for the baby. Falling gasoline prices, then, are a quick means of putting cash in people’s pockets.
Think of it as a stimulus plan. Without all that central planning.
October baseball notebook.12:10 PM, Oct 21, 2014 • By LEE SMITH
With the World Series opening tonight in Kansas City, the Giants are no doubt feeling their oats. They’re coming off of a three-homerun performance in their game five win over the St. Louis Cardinals, which landed them their third World Series appearance in five years. However, the Giants should be wary, for power is a fickle friend.
10:39 AM, Oct 16, 2014 • By GEOFFREY NORMAN
First time claims came in on the low side. Unexpectedly so. Which seems, paradoxically, predictable.
8:35 AM, Sep 26, 2014 • By DANIEL HALPER
A new chart from the minority side of the Senate Budget Committee shows a startling fact: Almost 1 in 4 Americans between the ages of 25-54 (or prime working years) are not working.
Here's a chart showing those in that age group currently employed (95.6 million) and those who aren't (28.9 million):
4:41 PM, Sep 9, 2014 • By GEOFFREY NORMAN
Inside the numbers of an ABC poll in which the numbers are decidedly not going the president’s way, there is this interesting nugget:
2:00 PM, Sep 6, 2014 • By IRWIN M. STELZER
Analysts hoping to rebut the purveyors of gloom who are arguing that America is in long-term decline were looking to Friday’s job report for comfort.
1:09 PM, Jun 6, 2014 • By DANIEL HALPER
Senator Jeff Sessions has released a statement that says, "7 Million People Have Left The Workforce Since The President Took Office." The statement is in response to today's jobs numbers.
"Today’s jobs numbers are only enough to tread even with population growth, maintaining unemployment at 6.3 percent. When you include discouraged workers, the unemployment rate doubles to an alarming 12.2 percent. There are still 3.2 million fewer full-time employed persons than there were in 2007," says Sessions.
9:39 AM, May 30, 2014 • By DANIEL HALPER
Startling charts from the Republicans on the Senate Budget Committee about male participation in the labor force, particularly men between the ages of 25-54:
2:38 PM, May 13, 2014 • By GEOFFREY NORMAN
But just how bad was the first quarter for the American economy? Commerce Department GDP came in at .1 percent growth, which is treading water, but barely.
12:28 PM, Apr 9, 2014 • By ADAM J. WHITE
As the Boston Red Sox collected their World Series rings last Friday, Boston faithful had much to be thankful for. And among those to whom they owed more than a little thanks was Bill James, the team's official analytical guru, who enjoyed an increased role in team decision-making after the team fell to pieces in 2012.
9:09 AM, Mar 5, 2014 • By GEOFFREY NORMAN
Private sector employment Increased by 139,000 jobs in February as reported by ADP (Automatic Data Processing, Inc.). This early, closely watched number comes in below:
The median forecast of 39 economists surveyed by Bloomberg …
… called for a 155,000 advance.
8:31 AM, Jan 10, 2014 • By DANIEL HALPER
The latest jobs numbers from the U.S. Bureau of Labor Statistics:
The unemployment rate declined from 7.0 percent to 6.7 percent in December, while total nonfarm payroll employment edged up (+74,000), the U.S. Bureau of Labor Statistics reported today. Employment rose in retail trade and wholesale trade but was down in information. …
Household Survey Data
10:37 AM, Dec 11, 2013 • By DANIEL HALPER
At a Capitol Hill hearing, Kathleen Sebelius admitted today that the Obama administration is 3 million short of its Obamacare goal: