The Daily Economy

  • ISM Reports Suggest Faster Growth but Slower Price Increases

    Two reports from Institute for Supply Management both point to similar conclusions. The “Manufacturing Report on Business” and the “Non-Manufacturing Report on Business” both suggest economic activity continues to grow […]

  • What Does the Weak May Jobs Report Mean?

    The Employment Situation report from the Bureau of Labor Statistics, known as the jobs report, was weaker than expected for May. Nonfarm payrolls added just 138,000 new jobs for the month, below the consensus expectations of 178,000. Excluding the loss of 9,000 workers from government payrolls, the private sector added just 147,000 for May. That…

    What Does the Weak May Jobs Report Mean?
  • The Freedom to Cooperate

    Apparently, someone should share the writings of AIER founder E.C. Harwood with Pope Francis. In a recent address, the pope criticized libertarianism as being “selfish” and “antisocial.” This unfounded characterization […]

  • Labor-Market Signs Stay Strong Ahead of the BLS Jobs Report

    The ADP National Employment Report shows U.S. businesses added 253,000 workers in May. That result follows a revised 174,000 gain in April and makes May the sixth month in the past seven when private payrolls increased by more than 200,000. The ADP figures may not match the data from the national employment report from the…

    Labor-Market Signs Stay Strong Ahead of the BLS Jobs Report
  • Excelsior Scholarship and Costs of College

    Recently on the blog, I discussed New York’s Excelsior Scholarship, which offers free tuition to New York residents to attend four-year public state universities. Today, I want to take a […]

  • A Look at The American Health Care Act

    Back in March, President Trump and Speaker Ryan failed to repeal and replace the Affordable Care Act, otherwise known as Obamacare. The GOP bill was called the American Health Care […]

  • Students Give High Marks to the Field Test

    In my previous blog, I described how teachers are overwhelmingly satisfied with the field test of the lesson ideas they develop at the AIER’s Teach-the-Teachers Workshop. Today, I would like to share my analysis of students’ evaluations of the implemented lessons.

    Students Give High Marks to the Field Test
  • First Quarter Real GDP Revised Higher While Consumer Sentiment Holds at a High Level

    Revisions to first quarter real GDP show the economy expanded at a 1.2 percent annual rate compared to the initial estimate of 0.7 percent. The major contributors to the upward revision were consumer spending, business investment, and government.

    First Quarter Real GDP Revised Higher While Consumer Sentiment Holds at a High Level
  • Cell Phone Plans and the CPI

    How much is unlimited data on your iPhone worth to you? In calculating the Consumer Price Index, the average answer is “a lot” — enough to explain a perceived slowdown […]

  • Now Is Not the Right Time to Regulate Bitcoin

    Regulators should take a wait-and-see approach in rather than crafting new rules for digital currencies now.

  • President Trump Proposes Deep Budget Cuts

    Earlier this week, President Trump released his proposed budget for 2018. The budget is ambitiously titled “A New Foundation for American Greatness.” The White House forecasts that the new budget […]

  • The Broad Economy Showed Strength in April Though Housing Weakened

    The Chicago Fed’s National Activity Index, a weighted average of 85 economic indicators, rose to 0.49 in April following a 0.07 reading in March. For this index, zero represents trend growth in the economy with positive numbers suggesting above-trend growth and negative numbers implying below-trend growth. Using a six-month moving average to smooth out the…

    The Broad Economy Showed Strength in April Though Housing Weakened