While the number of job openings declined slightly in August to 6.08 million from July’s all-time high of 6.14 million, quit rates remain relatively low. Since 10/16, quit rates have vacillated between 2.1% and 2.2%, and are barely above the…
US households spent slightly less than $2,000 on gasoline in 2016, the lowest inflation-adjusted amount since 2003. The lowest amount spent on gasoline since 1980 was $1,500 in 1998, while the highest was about $3,300 in 1980 and 2012. However,…
Despite confusion wrought by hurricanes Harvey and Irma, September’s employment report was stellar. Upward revisions to wage growth totaling three-tenths-of-one-percent for July and August and a 0.5% rise in September suggest wages are rising! Moreover, the unemployment rate declined to…
The 2017 Nobel Prize in Economic Sciences was awarded to University of Chicago Professor Richard Thaler. Thaler’s research in behavioral economics incorporates psychology and the awareness that people are irrational in relatively consistent ways to improve decision making. His research…
The Friday File: This past Monday, Tom Petty passed away at just 66. During a career that began in earnest in 1975 with the formation Tom Petty and the Heartbreakers, he won or shared three Grammy Awards, sold over 80…
After hitting an all-time high rate of $69 billion/year in 4/08, core capital goods (CCG) spending collapsed, bottoming at $46 billion/year in 4/09. It then quickly recovered, hitting a new high of $70 billion/year in 9/14, but oil prices then…
According to the American Hospital Association, from 1995 through 2014 inpatient admissions to hospitals rose by just 7.6%. By contrast, outpatient visits to free-standing emergency rooms, clinics, urgent care facilities and micro-hospitals rose 81%. Non-hospital operations generate lower revenues but…
Between 4/14 and 10/15, Flint, Michigan changed water suppliers, spawning a public-health crisis as the new water contained high lead levels. Research now shows that despite no reported decline in sexual activity, births declined by 12% and fetal deaths rose…
Compared to 188 other countries and taxing jurisdictions, the US has the third highest corporate tax rate. The highest rate belongs to the United Arab Emirates at 55%, followed by Puerto Rico (a US territory) at 39% and the USA…
The Friday File: After hitting a cyclical high of 122 in 2007, the number of half-million dollar and up yearling sales at Keeneland tumbled to a low of 28 in 2010 amid the panic of the Great Recession. Sales volume…