New Mexico has added 100 government jobs since 2007, making it one of 22 states to have added rather than lost government jobs since the start of the economic crisis in 2007.
China will overtake the U.S. economically in just five years, according to the latest International Monetary Fund (IMF) forecasts. On MarketWatch, the Wall Street Journal’s Brett Arend reports that new IMF data indicate that the rise of China as the world’s number one economic superpower will take place in More…
The National Association of Business Economists has lowered its growth outlook for the entire U.S. economy, forecasting persistent high unemployment and sluggish growth for the next two years, if not beyond. From the summary:
Northwestern economist Robert Gordon brings the gloom:
[Gordon] belongs to the committee of distinguished economists who officially declared on Sept. 20 that the U.S. recession ended way back in June 2009. Don’t mistake that pronouncement for optimism. According to Gordon’s research into the long-term determinants of growth, America’s next
Today, the Bureau of Economic Analysis reported that the U.S. economy grew at a 1.6 percent annual pace in the second quarter. The report was a second analysis, revising the number down from an initial estimate of 2.4 percent. That is a dismally slow pace of growth, but More…
Today, President Obama pushed for the Senate to pass the Small Business Jobs and Credit Act — a modestly sized bill that might unlock as much as $300 billion in credit for small companies, which have created two-thirds of jobs in the past decade.
The bill is considered More…
This morning, the Commerce Department said that the U.S. economy expanded at a 2.4 percent annual rate in the second quarter — about what economists expected. That rate is down from a 3.7 percent annual rate in the first quarter
Nonresidential fixed investment drove growth, increasing at a 17 More…
In a new paper released today, entitled “How the Great Recession Was Brought to an End,” prominent economists Alan Blinder and Mark Zandi say that the stimulus, stress tests, emergency Federal Reserve maneuvers and Troubled Asset Relief Program saved the economy from collapse.
The Wall Street Journal reports on a J.P. Morgan Chase analysis showing that the oil spill choking off fishing and tourism dollars to the Gulf might actually raise GDP a smidge.
Underlining that gross domestic product measures are often not a good guide to an economy’s well being, the
This morning, the Bureau of Economic Analysis announced that the United States’ gross domestic product, the largest measure of how much the economy is growing, gained at an annual rate of 3 percent in the first quarter. The number is decent, but the government had estimated the rate at More…
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