Since 2000, labor productivity has risen by 54%, during the same period output/worker in construction has fallen 8%. It’s due to a combination of fragmentation due to overregulation leading to underinvestment. Research has shown that construction firms with over 500…
While the OBBBA is economically only marginally stimulative, and only in the short run, the recent 12% slide in the greenback is akin to hefty interest rate cut. Also, OPEC’s recent announcement of an increase in production should further reduce…
The Friday File: While some may try a cannonball or belly flop, there’s science to help make the biggest splash. At the Manu World Champs tournament in New Zealand, the winner made a splash 33.1 feet high. Enter the water…
Harvard faces a $1 billion budget shortfall/year should Trump follow through on his threats spanning research, taxes, and enrollment. At 5%, Harvard’s $53 billion endowment yields $2.5 billion/year. However, in FY24 Harvard drew $2.4 billion from it to fund one-third…
The average age of the US population is 40. In 1970, it was 28, in 1980 it was 30, and in 2020 it was 38. When your workforce stagnates while your retiree population explodes, problems ensue. Currently, there are slightly…
While we can argue if households, firms, or manufacturers effectively pay tariffs, the data is in. From 1/1/25-5/31/25, California businesses paid $11.3 billion in tariffs. Texas was a distant second at $6 billion, then Michigan at $3.3 billion. 14 more…
June net employment growth was decently 147,000, April and May were revised up by 16,000, and the unemployment rate fell to 4.1%, but curb your enthusiasm. The unemployment rate declined because the labor force participation rate slid. Moreover, the workweek…
The Fourth File: July is National Hot Dog Month, and July 4th is peak hot dog day when 150 million hot dogs are eaten, enough to stretch from DC-LA five times. The person that’s eaten the most dogs in ten…
June net employment growth will be reported 7/3/25. Importantly, the number that comes out is preliminary. There’ll be a first revision in August, a second revision in September. In August there will also be a preliminary “benchmark” revision (based on…
As recently as 2011, the US ran a trade deficit in petroleum products of $330 billion/year. The trade deficit that year was $445 billion. By 2019, due to the fracking revolution, the petroleum trade deficit was zero, yet the trade…