On the first Friday of every month, economics journalists around the country get up early in anticipation of the Labor Department’s monthly jobs report. It’s probably the best single snapshot of how the workforce is faring, and in the post-recession United States, there’s often an element of suspense, as Americans want to see whether things are getting better.
President Barack Obama played headhunter-in-chief this week, having his staff pass along the resume of a unemployed Fort Worth engineer after his wife raised the matter with him in a Google+ "hangout."
The Texas Public Policy Foundation hosted a debate last week on the subject of whether Texas should accept the stimulus funds for unemployment insurance. The audio is available on the TPPF web site here. The participants were Republicans Kelly Hancock and Dan Gattis and Democrat Mark Strama. Craig Eiland, who was originally scheduled to participate, had a conflict. I am going to summarize the arguments below:
Aside from responding to hurricanes, I cannot remember the last time Rick Perry did something that resembled leadership. It's just not in him.
SOMETIME LAST SUMMER I BEGAN to notice that my friend Jost Lunstroth had developed a verbal tic.
THIS FALL, as the Asian financial crisis threatened to cross the Pacific, economists in Washington, D.C.—including Alan Greenspan, the chairman of the Federal Reserve—suddenly started echoing the words of James K. Galbraith, an economist who teaches at the Lyndon B. Johnson School of Public Affairs at the University of Texas at Austin. For more than two decades, against the prevailing opinion of others in his field, Galbraith has chided the Fed every time it has raised interest rates in the name of preventing inflation.