Category Archives: The Economy

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

Robust June 2019 Jobs Report Creates Question on Fed Rate Cut Timing

The U.S. just entered a record-shattering 11th year of economic expansion.  The economy added 224,000 net new jobs in June 2019 (preliminary) far exceeding the expectation of 150,000 new jobs by economists polled by MarketWatch.   Job growth was at 1.54 percent, 8 percent greater than the 40-year compound annual growth rate.  The unemployment rate feathered …Read more

MSA & Division Job Growth Rates — May 2019

Jobs are everything to an economy — and the economy is doing well.  In the past 40 years, the U.S. average compound annual job growth rate was 1.43 percent.  The current 1.58 percent is 11 greater than the 40-year average. Job growth is not systemic, however.  As usual, I invoke the TINSTAANREM axiom — There …Read more

State Job Growth May 2019

Jobs are everything to the economy.   Period.  Good news is that, for the second month in a row, positive job growth was registered in all 50 states for the 12-months ending May 2019 as shown in the following table.  Nevada, the top job growth state at 4.00 percent, had more than two and one-half times …Read more

Top 1 Percent of Earners by State 2018

My favorite Axiom as a real estate economist is the TINSTAANREM statement, which is am an acronym for There Is No Such Thing As A National Real Estate Market or a National Economy.  The same is true regarding income.   Median income per capita or household, for the country, by state or Metropolitan Statistical Area, varies …Read more