“You should know that our middle name is “Ethics”, but we have no particular code, consequently, I cannot comply with your request.”
June 17, 2012
Ethics
In November 1929, a month after the stock market crash, a letter was sent to the American Economic Association asking what its Code of Ethics was for practitioners of economics. The secretary of the association replied, in full:
“You should know that our middle name is “Ethics”, but we have no particular code, consequently, I cannot comply with your request.”
“You should know that our middle name is “Ethics”, but we have no particular code, consequently, I cannot comply with your request.”
June 6, 2012
June 1, 2012
May Jobs Report
The May Jobs Report has come out and it’s certainly bad news. Only 69,000 jobs were added in May; the unemployment rate stands “essentially unchanged” at 8.2%. Long term unemployment increased by 300,000. Additionally, the numbers for March and April were revised down. March job growth was revised from 154,000 jobs added to 143,000; April was revised from 115,000 jobs added to just 77,000 (the red line shows the unrevised numbers). The only piece of not terrible news is that the participation rate (people who have jobs plus people who are actively looking for jobs) increased.
If numbers like these continue, job growth won’t even keep pace with population growth. Factoring in population growth the economy needs to add roughly 200,000 jobs a month to return to levels of unemployment seen in early 2008 by 2015, and recent growth is nowhere close.
If numbers like these continue, job growth won’t even keep pace with population growth. Factoring in population growth the economy needs to add roughly 200,000 jobs a month to return to levels of unemployment seen in early 2008 by 2015, and recent growth is nowhere close.
Subscribe to:
Posts (Atom)