You should probably be making about $30,000 more

You should be earning more

Whenever a new batch of “employment/jobs” data gets released — which happened at the end of last week in the U.S. — I always get kind of frustrated, because (a) no one really understands the unemployment rate and (b) it really… Continue Reading


Job growth is nice, but earnings are stagnant — and that’s bad


Admittedly I don’t know a ton about economics — I actually got a D in Micro frosh year of college — so I’m not really that strong on all the different indicators of an economy’s health. I can tell you… Continue Reading


No one really understands the unemployment rate

There are actually six different “unemployment rates,” although predominantly when people use that term in cocktail party banter, they mean “the number of people looking for work who can’t actively find it.” But by no means is that the entire picture (I wrote… Continue Reading

Government employment actually FELL during this economic recovery. Is that why the recovery still doesn’t feel that strong?

The chart above is courtesy of here. It’s in turn via here, which notes that it’s fairly unprecedented, at least in modern times — government employment tends to rise during recoveries, but not so this time. The public sector has about 21.9 million… Continue Reading

Damn, North Dakota: from 2010 to 2013, 940 new jobs per 10,000 people. Next highest in the U.S.? 337 new jobs per 10K people.

Say it with me now: the twin engines of present-day American job growth are knowledge and energy. We’ve talked about this before (with a little more context here), and now theres’s some new data via Atlantic Cities essentially underscoring the idea. Look at this chart:   The… Continue Reading