The average duration of unemployment in 2014 is still higher than it was in 2010. I’ve written a great deal over the years about the decrease in the labor force participation rate and its implications for the U.S. economy. But, frankly, this took me by surprise. Anyone who still thinks the U.S. economic “recovery” is real should check their privilege. Continue Reading →
Mr. Watt gave a talk at the Brookings Institution on the morning of May 13. He announced plans to reverse course with the two troubled agencies and expand their footprint in the housing market. This is not a surprise to anyone who followed the confirmation hearings. What is surprising is that the administration is so blatantly announcing their intentions to repeat the mistakes made in the first decade of the 21st century. Continue Reading →
Real GDP grew by 3.5 percent in the third quarter. Based on this figure, productivity grew by an astounding 9.5 percent. I don’t believe those numbers and neither should you. Continue Reading →