Retraction Subtraction

By Econ70 | 09/10/2012

The economy added just 96,000 jobs in August. Worse, the DOL lowered the June and July estimates by 41,000! While the unemployment rate fell to 8.1%, it did so only because 368,000 Americans left the labor force, reducing the participation rate to 63.5% from 63.7%, its lowest level since 9/81. Factory employment fell by 15,000,…

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Startups Create Jobs

By Econ70 | 04/29/2011

The perception is that small business creates most new jobs. NO! The best predictor of job creation is age of firm. Younger firms create more jobs regardless of size. New firms operate in a volatile “up or out” environment. After 5 years many young firms fail. But, those that survive continue ramping up and grow…

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