The Bureau of Economic Analysis announced yesterday that U.S. real GDP grew at a 2.6% annual rate in the third quarter. Even factoring in the dismal start to the year, that leaves full-year GDP growth during 2014 at 2.4% (the best annual performance since 2010) and growth at an annual rate of 4% over the last 9 months.
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The external sector weighs in, and thinking about the length of the recovery.
Reader rtd states “it is virtually guaranteed that after a nation’s business cycle trough, that same nation’s employment growth will display an upward trend.” I thought this an interesting enough assertion that it merited additional investigation.
From Foxnews:
Wisconsin Gov. Scott Walker is calling for steep cuts to the University of Wisconsin System, while offering the network more freedom in exchange, … [H]is university plan … would cut funding by $300 million over two years…
Source: Berger-Fisher (2013).
Two extremely useful books on China and the Chinese Currency: The Oxford Companion to the Economics of China and Renminbi Internationalization: Achievements, Prospects, and Challenges.
In December I provided some simple calculations of the extent to which a slowdown in the growth of global oil demand may have contributed to the spectacular drop in oil prices since last summer, and I updated those estimates two weeks ago. Some of you have suggested that as conditions keep changing, perhaps I should update those calculations every week. Thanks to the always-helpful Ironman at Political Calculations, I can now go that a step better, and provide eager Econbrowser readers a quick tool they can use to update these calculations on their own on a daily basis, if your heart so desires.
Reader rtd writes: “…it is virtually guaranteed that after a nation’s business cycle trough, that same nation’s employment growth will display an upward trend”, but when asked about the euro area, argues “The Eurozone is a conglomerate of nations with varying fiscal policies, ideologies, cultures, and the list goes on and on. Please don’t compare apples with hand grenades.”
Reader Move On admonishes me to … move on. So here is job creation in this Administration, in comparative perspective.
According to WI DWD statistics released today.
Today we are fortunate to have a guest contribution by Jinzhao Chen (Paris School of Economics) and XingWang Qian (SUNY Buffalo State). This post is based on this paper.