Recent Articles
A Primer on Real Versus Nominal
Harvey Gram
July 22, 2018
Nominal economic measures can be misleading if inflation is not properly accounted for. Understanding how price indexes are constructed is essential for distinguishing real growth from inflation and for interpreting GDP and interest rates accurately.
July 06: Total Non-Farm Payroll Employment Increased by 213,000 in June
Total nonfarm payroll employment increased by 213,000 in June, and the unemployment rate rose to 4.0 percent, the U.S. Bureau of Labor Statistics reported today. Job growth occurred in professional and business services, manufacturing, and health care, while retail trade lost jobs. Read more
June 28: U.S. GDP Rose 2.0 Percent in 2018 Q1
Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the first quarter of 2018, according to the “third” estimate released by the Bureau of Economic Analysis. Read more
June 14: The New York State Department of Labor Reported a Gain of 12,300 Jobs Statewide in May
The New York State Department of Labor reported a gain of 12,300 jobs statewide in May. Employment in the state is up 1.1% over a year ago, less than the nationwide gain of 1.6%. The BLS reported a gain of 11,300 jobs in New York City in May.
A Primer on Stocks and Flows (Part 2)
Harvey Gram
June 06, 2018
Government debt and deficits are often misunderstood and shaped by rhetoric rather than economics. Distinguishing between stocks and flows helps clarify when debt is sustainable and how fiscal policy should be evaluated.
May 17: The New York State Department of Labor Reported a Gain of 6,700 Jobs Statewide in April
The New York State Department of Labor reports the state gained 6,700 jobs in April. Employment is up 1.2% statewide over last year, slightly below the 1.5% gain nationwide. The BLS reports jobs in New York City were up 1.8% in April over a year ago.
A Primer on Stocks and Flows (Part 1)
Harvey Gram
May 18, 2018
Understanding the difference between stocks and flows is essential for interpreting income, wealth, deficits, and national accounts. This primer explains how balance sheets and flow accounts interact in households, governments, and the broader economy.
May 04: Total Employment Increased by 164,000 in April, and the Unemployment Rate Edged Down to 3.9 Percent
Total nonfarm payroll employment increased by 164,000 in April, and the unemployment rate edged down to 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, manufacturing, health care, and mining. Read more