“The bottom half of Americans combined have a negative net worth,” Bloomberg’s Ben Steverman wrote based on research of economists Emmanuel Saez and Gabriel Zucman. That’s NEGATIVE net worth for the bottom … Continue reading One brutal sentence captures what a disaster money in America is
Unemployment is at record lows in both the UK and the US. But “involuntary” part-time work is at least 40% higher in both countries than it was 10 years ago. The structure … Continue reading Unemployment is low only because ‘involuntary’ part-time work is high
Despite the longest U.S. economic expansion on record, many sit on the edge of financial disaster. This is because the unemployment figure doesn’t tell the whole story. Wages have remained essentially flat … Continue reading ‘This doesn’t look like the best economy ever’: 40% of Americans say they still struggle to pay bills – The Washington Post
A new analysis confirms that for years, central bankers and top economists underestimated America’s true unemployment rate. The true unemployment rate is not what the government is saying it is. That’s why … Continue reading The Fed Needlessly Undermined Growth, Study Confirms
Unemployment is low, so why doesn’t it feel better? Because we have fewer people looking for work, stagnating wages, anemic growth, and a private sector with a mountain of debt on its … Continue reading If Unemployment Is So Low Then Why Don’t I Feel Better?
The economy still has room to grow. The answer is that the unemployment rate is based on people looking for work and people working. It doesn’t take into account the number of … Continue reading The US unemployment rate is at a 48-year low—so why are so many Americans still out of work?
BI PRIME: A new study by the JP Morgan Chase Institute indicates that the gig economy isn’t paying off for most participants. Driving to Uber just isn’t cutting it. It’s why the … Continue reading JP Morgan Chase Institute study finds the gig economy pays just $828 a month
New data in a research paper for the National Bureau of Economic Research suggests the wage-dampening effect of mass unemployment has been overtaken by the “underemployment” of the gig economy. Unemployment numbers mean … Continue reading “Underemployment”: Misleading unemployment numbers are prompting the Fed and the Bank of England to make a huge errors
A morally odious theory is empirically unsupportable and increasingly questioned by a younger generation of central bankers. Expect politicians to make more noise about the Fed’s controversial choices after Yellen is gone. … Continue reading NAIRU: not just bad economics, now also bad politics
A full-time job is increasingly rare. This is not healthy for people’s financial, as well as overall well-being. Source: Almost all the 10 million jobs created since 2005 are temporary — Quartz Continue reading Almost all the 10 million US jobs created since 2005 are temporary
Jacinda Ardern is set to become the next prime minister of New Zealand in a meteoric rise to power just months after taking control of the opposition Labour party in the middle of an election campaign. Ms Ardern, 37, … will become one of her country’s youngest prime ministers and the third … Continue reading Jacinda Ardern set to become New Zealand PM
Wage pressure paranoia strikes again. By focusing on this fictitious danger of inflation, meaning, workers might ask for higher wages, the Fed is taking steps to keep MORE people unemployed, thus locking millions … Continue reading The Fed just took action to slow job creation despite low inflation