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A Pause That Distresses
Krugman says there is cause for concern from May's U.S. jobs report of only 38,000 jobs added- low even with Verizon strike jobs added back in- compared to the 200,000 a month average since Jan 2013. One cannot read too much into one months report, yet the political uncertainty in a election year adds to the problem. The low interest rates near zero offering little possibility for rate cuts, make it difficult to come up with a policy response. Under a Clinton administration the infrastructure spending option would face Republican resistance. It is not clear how a Trump administration would respond. Krugman says the jobs figure reflects a stronger dollar- a result partly of the Fed's plan to raise rates- that is hurting U.S. exports.
Ten U.S. states that have not recovered 2008 recession job losses by 2016
03/25/2016
The states are Alabama, Mississippi, Missouri, Wyoming , New Mexico , Nevada, Maine Connecticut, West Virgina. New Jersey. Some of these states provided the support needed for Trump to win in the south and midwest.
Grouped Articles
Ten States Still Have Fewer Jobs Since Recession
New York Times 03/25/2016
The New York Times 06/06/2016
Bernie Sanders: Democrats Need to Wake Up
The New York Times 06/28/2016
Krugman on how the stronger dollar and the weaker euro will hurt U.S. export competitiveness and growth in 2015-2016
03/13/2015
Europe will export some of its problems to the U.S. in 2015-2016, as the euro goes to parity with the dollar and makes European products more competitive with U.S. products in global markets. This will hurt U.S. growth. Yet it is important for the U.S. that Europe get out of its deflationary trap, and as for exchange rates and flows of capital this is how the global economy works with little that the U.S. can do about it, says Krugman. He believes many Federal Reserve governors were clueless about the impact of this on the U.S. growth in their March meeting as they pushed for higher rates, merely assuming that the situation it will turn out positively for the U.S. Krugman says that with growth in wages sluggish and low inflation the Federal Reserve needs to be very careful as it considers raising interest rates.
Grouped Articles
New York Times 03/13/2015
Weaker Euro Ripples Around World
Wall Street Journal 03/13/2015
Strong Dollar Stands in Manufacturing Sector’s Way
Wall Street Journal 03/16/2015
Torrent of Cash Exits Eurozone
Wall Street Journal 03/23/2015
U.S. Trade Gap Widens on Surging Imports
Wall Street Journal 05/06/2015
The New York Times 06/06/2016
U.S. presidential candidates Trump and Clinton win large margins in March 2016 in economically challenged areas with high unemployment
03/01/2016
Trumps draws votes across demographic lines in lower income economically challenged areas in the March 2016 Republican primaries. Clinton draws support in both economically challenged minority areas and affluent suburbs.
Grouped Articles
Super Tuesday Voting in Cities Offers Clues Toward Road Ahead
Wall Street Journal 03/03/2016
Beneath Hillary Clinton’s Super Tuesday Wins, Signs of Turnout Trouble
New York Times 03/02/2016
How the Candidates Fared in Georgia, Massachusetts, Texas and Virginia
New York Times 03/02/2016
Democrats Turn to Hillary Clinton After Flirting With Bernie Sanders
New York Times 03/01/2016
New York Times 03/02/2016
New York Times 03/02/2016
U.S. Labor Department Jobs reports for 2016
06/06/2016
Grouped Articles
The New York Times 06/06/2016
America added 255,000 jobs in July, but unemployment rate unchanged
Washington Post 08/05/2016
Robust Jobs Report Spurs Fed Watch
WSJ 08/05/2016
Modest U.S. Jobs Growth Keeps Labor Market Steady
WSJ 10/07/2016
U.S. Adds 161,000 Jobs in October; Jobless Rate Ticks Down to 4.9%
WSJ 11/04/2016
Declining U.S. Labor Force Participation Rate for 2010-2016 and its implications for unemployment and economic growth
06/06/2009
Grouped Articles
Job Growth Eases Fears About Effect of Closing
New York Times 11/08/2013
Candid Criticism for Fed That Wasnât on the Agenda
New York Times 11/08/2013
Confronting Old Problem May Require a New Deal
New York Times 01/28/2014
More Men in Prime Working Ages Don't Have Jobs
Wall Street Journal 02/06/2014
New York Times 04/05/2012
Takeaways From the Monthly Jobs Report
Wall Street Journal 04/05/2014
Social and economic mobility for the middle class emerging as the central issue in the 2016 U.S. presidential campaign
09/13/2015
Bernie Sanders and Hillary Clinton in the Demcratic Party, and Jeb Bush in the Republican Party, are making social and economic mobility for the middle and working class a central issue in the 2016 presidential campaign. In Britain Corbyn's election to the leadership of the Labor Party with all other candidates doing poorly, is also creating a focus on economic issues and better access to education and jobs.
Grouped Articles
Sanders, Corbyn and the coming debate inside the Democratic Party - The Washington Post
Washington Post 09/13/2015
New Leader Turns British Labour Party to the Left
New York Times 09/14/2015
Wall Street Journal 09/17/2015
Not There Yet on Equal Opportunity
Wall Street Journal 10/21/2015
America’s white working class is a dying breed - The Washington Post
Washington Post 11/12/2015
The missing working class - The Washington Post
Washington Post 11/12/2015
The pause in the U.S. economy with the May 2016 U.S. jobs report showing 38,000 jobs added
06/06/2016
Krugman discusses the U.S. May 2016 jobs report from the Labor Department. He says it will be harder to come up with a response to the political uncertainty in an election year, especially now that rates are near zero.
Linked Articles
Sharp Fall in U.S. Hiring Saps Chance of Fed Rate Increase in June
The New York Times 06/03/2016
The New York Times 06/06/2016
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