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Unemployment

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Die Lüge (The Lie)

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Recent news out of Europe has been surprisingly mild: higher than expected growth in European economies; falling risk premiums across Southern European sovereign bonds; progress on the single bank resolution authority; release of pent up demand. Finance Ministers and business leaders make the proper cautious noises, but the tone is one of suppressed triumphalism: Europe […]

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Spain’s June Employment Data: At Best Ambiguous

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Some key statistics from Spain’s National Employment Office June report: * Monthly change in registered unemployed: -127,248 (good) * Yearly change in registered unemployed: +148,411 (not good) * Monthly change in new contracts: -6,006 (not good) * Monthly change in new permanent contracts: -8,507 (not good) * Yearly change in new contracts: -109,084 (not good) […]

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The Clearing in the Woods: Is Spain’s Good News Too Good to be True?

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Spaniards finally received some two pieces of good news in May. The first item is that the Spanish current account balance was positive in May for the first time in modern history. The second is that the unadjusted employment numbers for both April and May came back with slight gains; slight, but gains nonetheless[1]. This […]

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Spain’s Demographic Woes

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April was an unusually rough month for Spain in the news. On Monday, Eurostat published the official statistics for public debt in the Eurozone and Spain topped the list with a deficit of 10.6% of GDP. On the same day, the Madrid government revised its 2013 estimate for growth sharply downwards from -0.5% to -1.5%, in line […]

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The costs of war

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Remember this graph when the Republicans tell you that there is no money to create jobs, or unemployment for those down on their luck, or social security for the elderly, or Medicare/Medicaid for the infirm. Remember it, because they’re lying.   And all this for the sake of our national security. How much safer do you feel? […]

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Twenty-to-One

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http://pewresearch.org/pubs/2069/housing-bubble-subprime-mortgages-hispanics-blacks-household-wealth-disparity This summer, the Pew Center published some research on the impact of the Great Recession on American household wealth, with a focus on disparities between ethnic groups. “Twenty-to-One” is the ratio of the median income of white households versus black households. The disparity with hispanic households is almost as great: eighteen-to-one. The Great Recession has […]

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“Our obligations to our country never cease but with our lives.“

John Adams

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