In December 2010, Meredith Whitney, the financial analyst, appeared on 60 Minutes, where she predicted that the United States would see between 50 and 100 defaults of municipal bonds. read more »
Despite panning Texas Governor Rick Perry’s initiative to draw businesses from New York, Slate’s business and economics correspondent, Matt Yglesias offers sobering thoughts to growth starved states along on the West Coast and in the Northeast. read more »
I recently looked at the changes in jobs in metro areas for 2012. Here’s a follow-on look at unemployment. First a look at the national unemployment rate picture, which has improved remarkably. read more »
In an article entitled "Portland area's college-educated workers depress metro earning power by choosing low-paying fields, shorter hours," The Oregonian's Betsy Hammond reports on a new study decrying the less than robust economic impact of Portland's younger college graduates, especially males. read more »
Big cities have been on a bit of a roll in recent years. But sometimes you can have too much success, as we may be seeing in the case of New York. This week the New York Times reported that finance firms are moving mid-level jobs away from Wall Street to places like Salt Lake City and Charlotte. read more »
The latest BLS release for metro area unemployment has full year averages for 2011 available, so we can see which cities added the most jobs last year. On the whole, it was a much better year for metros than we’ve seen in the recent past. The national economy added jobs, and all but two large metros did as well. New York City added the most jobs of any region, but given that it is far and away the biggest city in America, it should do so. NYC ranked only the middle of the pack on a percentage growth basis. On that measure, Austin, Texas was number one. read more »
Overall migration rates in America appear to be down in the wake of the Great Recession, reaching the lowest levels recorded since the 1940's. While some statisticians argue that changes in data collection over time have led to an overstatement of such changes, there seems little doubt that "interstate migration has been trending downward for many years," regardless of recent recessionary effects. That said, Americans remain a mobile people. read more »
America has two basic economies, and the division increasingly defines its politics. One, concentrated on the coasts and in college towns, focuses on the business of images, digits and transactions. The other, located largely in the southeast, Texas and the Heartland, makes its living in more traditional industries, from agriculture and manufacturing to fossil fuel development. read more »
Keith Cline at Inc.com has a fresh look at one of the enduring, and perplexing, stories of 2011 — the skills shortage. Even with 13.3 million Americans unemployed, and millions more underemployed, there are industries severely lacking in skilled talent.
Cline provided five loose job titles/duties that employers will have a hard time filling as 2012 starts. Chief among them: software engineers and web developers. read more »
A recent poll of 3,000 C-level manufacturing company executives found that 85% see certain manufacturing functions returning to the U.S., citing increasing costs overseas (37%), logistics/delivery demands (20%), quality issues (7%) and other reasons (37%).