Post Tagged with: "wages"
Chart: Employment and Wage Trends in New York City (including on Wall Street)
Great data from from the BLS. The average annual wage in New York’s financial industry more than tripled from 1990 to
Chart of the day: Hours of Work Needed to Buy a Barrel of Oil
Another awesome piece of work from our friends over at The Chart Store. The chart below is a times series of the numbers of hours of work — based on the average hourly wage — needed to buy a barrel of crude oil. Given the current wage of $19.53 in October it now takes 4.7 hours of work to purchase a barrel of crude. Add another couple of hours when Iran heats up
The German labour market miracle
Jobs and the lack of them are top of the agenda for policymakers and increasingly groups of protestors gathered in the financial districts of New York, London, and elsewhere. Unemployment in these countries is in danger of reaching 10%. In Germany, however, unemployment is below 7%. Some hail it as a miracle. This column finds a scientific – and far less inspiring – explanation
Chart of the Day: US Income Growth 1979-2007
Since everyone is talking about increased wealth and income disparities in the US, it is useful to have some numbers to point to. You saw yesterday’s chart of the day on income as measured by 2008 tax returns. Today’s chart of the day comes from the US Congressional Budget Office
Chart of the Day: Visualizing Economics on the Top 0.1% and the Top 0.01%
Here’s a nice little graphic from the site Visualizing Economics on the US income distribution as measured by income from 2008 tax returns
Hockett says restructure debt and invest in infrastructure
Cornell University professor Robert Hockett explains his paper with Nouriel Roubini and Daniel Alpert on “Moving From the Post-Bubble, Post-Bust Economy to Growth”. His prescription is one part credit writedowns, one part debt rebalancing, and one part reflation via infrastructure spending
Roubini: Moving From the Post-Bubble, Post-Bust Economy to Growth
Here are the important extracts from a recent paper in terms of the causes of the crisis. I have also embedded the full pdf version, which has suggested policy prescriptions as well
Pippa Malmgren on the Republican Presidential Debate
Former George W. Bush official Pippa Malmgren does a good analysis for Bloomberg of the issues important to voters and how they will play in this year’s presidential election
Will internal devaluation work?
My friend Rob Parenteau doesn’t think it will. His argument against it is similar to the one I have been making about the origins of this crisis. Here’s what I said
UK real wages are falling
These numbers are well under the inflation rate and show British consumers becoming victims of stagnating and negative real wage growth
Manufacturing inflation in a wage deflationary environment
How does manufacturing CPI inflation benefit an economy in which incomes are falling? When inflation rises and incomes are stagnant or falling, the economy rolls over
China Notes from the Yum! Brands Earnings Call
Today’s Yum! Brands’ earnings conference call was dominated by China. Management talked a lot about commodity inflation running around 8 percent and 20% labor inflation, which they do not yet see abating. This doesn’t square with the August official inflation rate of 6.2 percent. A China hard landing scenario is now on traders’ radar and needs to be closely monitored. The stock closed down 2.7 percent