Where have all the working men gone?

The employment problem.

An important indicator shows scant improvement.

When the monthly job numbers are released, most people focus on the unemployment rate. On many occasions, I’ve cited that number, usually to point out that the unemployment rate is far higher than the Obama Administration promised it would be if the so-called stimulus was enacted. That episode should be additional proof that Keynesian economics […]

The Labor Department just released its monthly employment report and the White House is probably not happy. There are several key bits of data in the report, such as the unemployment rate, net job creation, and employment-population ratio. At best, the results are mediocre. The unemployment rate generally gets the most attention, and that was […]

The White House doubtlessly is happy that the unemployment rate has dropped to 8.5 percent, in part because the President is much more likely to get reelected if voters think the economy is heading in the right direction. My political predictions have a mixed track record, so take this for what it’s worth, but I’ve […]