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May 13, 2013
COMMENTARY – by Michael J. Hicks, Ph.D.
The employment data we read about treat all jobs the same, whether they are 15 hours or 45 hours per week.
It is wise to approach the cascade of economic data with some suspicion. Federal economic data sets are almost always revised a bit as more people are surveyed, and late administrative filings are compiled. The data sets often don't mean exactly what we think they mean. For example, the employment data we read about treats all jobs the same, whether they are 15 hours or 45 per week. Also, inflation is imperfectly measured, so the real values of anything denominated in currency will be a tad bit wrong. That said, the U.S. has the most sophisticated, apolitical and effective economic data services in the world. They just happen to be administered and reported by men, not angels.
Read the full commentary.
Last week's commentary: The Real Cause of Brain Drain
What is the state of business at your workplace? Complete our brief survey to share your experiences and insight. Responses will be used for discussion at the next Ball State Business Roundtable quarterly meeting.
Link to survey: http://www.surveymonkey.com/s/ZCMZK2W
DID YOU KNOW? – by Dagney Faulk, Ph.D.
CBER recently released the mid-year forecast update by Michael Hicks. The forecast brief discusses various issues that continue to place recessionary pressure on the U.S. economy, including slow growth of personal income, weakness of the European economy, a shift in labor market dynamics where job growth is occurring for workers with bachelor's and associate degrees but not for workers with a high school diploma or less education, growth in part-time rather than full-time jobs, and uncertainty surrounding the implementation of the Affordable Care Act.
ECONOMIC INDICATORS – View all economic indicators.
U.S. Retail Sales, April 2013
U.S. Consumer Producer Price Indexes, April 2013
U.S. Industrial Production Indexes, April 2013
U.S. Consumer Price Index, April 2013
U.S. Housing Starts, April 2013
Regional Employment and Unemployment, April 2013
Indiana Household Employment, April 2013
Indiana Establishment Employment, April 2013
U.S. Index of Leading Economic Indicators, April 2013
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