Solving the Wrong Problem

September 13, 2019 The European Central Bank provided a surprise dose of monetary stimulus this past week.  Not only did it cut interest rates, it announced a new bond-buying program designed to get the economy going.   However, policy makers in Europe and the U.S....

Unemployment vs. Job Openings

September 10, 2019 The  Labor Department reported that job openings fell 0.4% in July to 7,217 thousand after declining 1.8% in June.  Job openings seem to be bouncing around from month to month at a very elevated level.  Indeed, there are far more job openings today...

Unemployment Rate

September 6, 2019 The unemployment rate was  unchanged in August at 3.7% which is the third month in a row at that level.   At 3.7% the unemployment remains close to its lowest level since December 1969  — almost 50 years ago.  The labor force jumped 571...

Initial Unemployment Claims

September 5, 2019 Initial unemployment claims rose 1 thousand in the week ending August 31 to 217 thousand.  The four-week average of claims rose 1 thousand to 216 thousand.  The 4-week average for the week of April 13 of 202 thousand was the lowest for the current...