They've got to rehire at some point, don't they?

The latest batch of Nashville-area economic indicators shows the number of weekly hours worked in durable-goods manufacturing spiking by almost 9 percent from a year ago. Yet the number of local factory jobs fell by 10 percent.
Jan 8, 2010 8:30 AM

Where Tennessee's job growth will come from

USA Today's graphic staff has built a very compelling graphic detailing Moody's state-by-state projections of employment growth out to 2013. Some quick takeaways: Construction won't come back here as quickly or as strongly as elsewhere and the factory sector's recovery is another year away. But on the brighter side, we'll add services, financial and — small sigh — government jobs at a decent pace. HT: Chart Porn
Jan 7, 2010 7:47 AM

The government is not the biggest stimulator

An optimistic Larry Kudlow says last year's stock market will help this year's job market.
The biggest source of economic stimulus is not the $800 billion Obama spending package. It’s the $4.6 trillion of capital gains thrown off by the stock market over the past three quarters. This is investment money, and it also enhances consumer spending. As a result, jobs are likely to start rising early in 2010.
Jan 4, 2010 9:12 AM

Layoffs hit Middle Tenn. manufacturers

Three Murfreesboro companies among those cutting jobs
Dec 21, 2009 1:19 PM

State jobless number ticks down

Seasonal retail hiring and gains at services and health care companies helped push down Tennessee's unemployment rate last month to 10.3 percent. I will note, however, that the state's labor force has shrunk by almost 60,000 this year — which equates to another 0.2 percentage points of unemployment — and that only the health care sector has grown year over year.
Dec 17, 2009 2:59 PM

'The consumer is doing alright'

Encouraging news on the economic front: The Conference Board's index of leading indicators rose higher than had been expected in November, powered by better numbers from its jobless-claims and factory-hours components.
Dec 17, 2009 1:09 PM

What's the economy's next structural change?

Weighing how this recession was shaped by the business cycle versus underlying changes in our economy, Tim Duy looks back at how our labor market exited the 2001 recession and asks a very important question.
After the post-recession boost — inventory correction, pent-up demand, etc. — labor markets quickly returned to a period of stagnation that lasted until the housing bubble began to take hold. What in the next two years can we expect to take the place of that bubble?
Dec 9, 2009 8:46 AM

Health care employment still on the up and up

The health care industry added 21,000 jobs in November – not bad considering the country’s unemployment rate was at 10 percent. The Wall Street Journal does the math: In total, 613,000 health care jobs were added since the start of the recession in December of 2007.
Dec 7, 2009 3:30 PM

A step back on the jobs number

After Friday's employment summary surprise, James Picerno brings us all back to earth a little. Yes, layoffs are "rapidly fading" and the recession is essentially over, but there's plenty still to worry about.
The hard work is about to begin. As difficult as it's been to return the economy to a state of treading water, that will pale next to the business of promoting non-inflationary growth on a meaningful scale in the years ahead. Simply expanding the labor market to its pre-recession level—roughly 7 million jobs more than we currently have—will require an unusually lengthy and potent expansion. As if that wasn't enough, there's the threat of high inflation, rising interest rates and a hefty debt load on governments and consumers lurking. This isn't going to be easy.
For more on how to get the jobs recovery started, check out this discussion on stimulating (or not) the labor market at ThinkMarkets. Among the thoughts: It probably wouldn't hurt us to take a breath and let companies adjust to where the economy is these days.
None of these suggestions exhibits the slightest understanding that labor markets need time to readjust. It is as if, for Krugman, some nasty irrational force has it in for labor employment (the “lagging indicator”). Yet entrepreneurs must figure out what the sustainable lines of production will be after a bubble period. All of this is presumably viewed as a minor issue because the major problem is consumers are too afraid to spend (on what?). Anything will do in Krugman’s world.
Dec 7, 2009 7:23 AM

Goldman: No drop in jobless rate for two years

Look the other way if you want optimism on the U.S. job market: Goldman Sachs' economic team sees average GDP growth for the next two years, but says the unemployment rate will peak a little above where we are now in mid-2011.
Dec 3, 2009 1:23 PM