Saturday, March 25, 2006
Easy to understand economics
Bonddad at dailykos has a fairly regular contributing column on the economy that's always straightforward and (atypical of economists) easily digested. Today's entry proves a bit more complex in terms of areas covered, but it's still very user friendly - with data links, too.
A brief excerpt:
Comparing Bush's establishment job growth to all other expansions since 1960 indicates Bush's job creation is the weakest of the last 40 years. The economy has created 2.318 million jobs after 62 months of Bush's presidency. At the same time in Clinton's presidency (62 months) that number was 15,089,000 - not total jobs, but jobs created (that's six times the amount establishment jobs under Clinton compared to Bush). In fact, when you compare Bush's average annual percentage change in the employment numbers to all the other economic expansions in the last 40 years Bush's record of job creation comes up dead last. Bush's average annual percentage change in payroll employment is .6%. The next lowest is Clinton's expansion, where the average annual percentage change in payroll employment was 1.9% -- three times higher.
Well worth reading the entire article: The 6 Major Problems of the Current US Economy.
Timely, too, in light of the fact new housing sales dropped an unexpected 15 percent recently - signaling the end of the housing bubble.