Category Archives: The Economy

U.S. Employment Performance July 2019

The economy added 164,000 net new jobs in July 2019 (preliminary) short of the expectation of 171,000 new jobs by economists polled by MarketWatch.   Job growth was at 1.51 percent compared to the 40-year compound annual growth rate of 1.43.  The unemployment rate was unchanged from June at 3.7 percent. The following graph shows the …Read more

MSA % Divisions Employment – June 2019

The U.S. just entered the longest economic expansion in history having grown 121 months.   Job growth nationwide was 1.54 percent in the 12 months ending June 2019 compared to a 1.43 percent annual compound rate for the past 40 years.  Job growth is not systemic, however.  As usual, I invoke the TINSTAANREM axiom — There …Read more

Another Top-10 List– States With the Greatest Student Debt

The average annual cost to attend a private nonprofit college averaged $45,510 in the 2018-2019 academic year.  This compared to an inflation-adjusted $24,800 in the 1988-1989 academic year.  After considering inflation, the cost of college has almost doubled in the past 30 years. Free college tuition and forgiveness of college debt is a platform plank …Read more

State Job Growth June 2019

Jobs are everything to the economy.   Period.  Just one state, Louisiana, posted a decline in the total number of jobs year-over-year, down a miniscule 0.07 percent with a loss of 1,300 net jobs.  Nevada grew jobs at a 3.30 percent pace once again topping state job growth at more than double the 1.54 percent nationwide …Read more

Another Top-10 List — Greatest (and Least) Debt Per Capita by State

The Modern Theory of Finance says that borrowing and investing today allows individuals to select both optimal investments now (such as borrowing for college to earn greater income in the future) and to also optimize future consumption patterns (like investing for retirement supporting a better lifestyle when income from employment lags).  From a theoretical perspective, …Read more

Richest Countries in the World

The incentives to grow wealth are multifaceted.   People in wealthier countries not only typically are healthier and live longer, but have the opportunity for experiences, comforts and lifestyle that otherwise would not exist. They are two ways to measure the wealth of a country.  Gross Domestic Product (GDP) is the value of all goods and …Read more