Econ70

There are currently 64 occupations where the average wage exceeds $100,000/year. Within these occupations, nine enjoy average wages that exceed $200,000/year, all of which are in healthcare, and led by anesthesiologists at $269,600. The only two occupations in the top…

Despite March nonfarm payrolls rising just 98,000, probably due to the nor’easter, the labor market is tightening! The unemployment rate hit 4.5%, its lowest level since 4/07 and the broadest measure of unemployment declined to 8.9%, its lowest reading since…

The Friday File: At $33,000,000/year Clayton Kershaw is the top paid baseball player, followed closely by fellow pitchers Zack Greinke at $31,876,966/year and David Price at $30,000,000/year. The LA Dodgers have the highest payroll at $188 million, followed by the…

While giving poor Ecuadoreans free shoes made the recipients happier and did not harm the existing shoe retail industry, it did nothing else. It didn’t decrease shoelessness or increase shoe ownership, since older shoes were tossed, nor did it boost…

The percentage of the US population with a bachelor’s degree hit 33.4% in 2016, the highest percentage ever. In 2010, the percentage of college graduates was 30%, and in 1940, the first year such data was collected, just 4.6% of…

Before quantitative easing, the Fed’s balance sheet was $900 billion, 6% of GDP. Today, it’s $4.47 trillion, 24% of GDP. Assuming the Fed wants the balance sheet to again be 6% of GDP, and assuming nominal GDP grows 3%/year, by…

February pending home sales surprised, rising 5.5% M-o-M, and are at their highest reading since 5/06, while house prices rose a strong 5.7% during the three months ending 1/17. Moreover, February new home sales were 592,000 seasonally adjusted, their second-best…

The Friday File: In an explosive trend, celebrities are pampering their pooches with profoundly posh pads. Paris Hilton purportedly purchased a penthouse for her pup for $375,000. In an effort to be top dog, Nicole Ritchie paid a profound $1.1…