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Eurostat has published a report on regional unemployment differences within Europe. Here are a few interesting facts within it: -10 out of the 12 regions with the lowest unemployment rate are German speaking, which is to say they are in Germany or Austria. The only non-German speaking are Prague, whose unemployment rate of 3.1% is radically [...]
I personally prefer MZM as a measure of money supply in the U.S., and the fact that the movement was across a certain nominal threshold is of mostly symbolic nature, but it is still interesting that M2 rose above $10 trillion this week for the first time ever. M2 is up by 8.7% the latest year. [...]
One interesting fact is that France has 2.4 times as many companies with 49 employees as with 50. Why? Because once a company reached 50 employees they must initiate profit sharing, create “worker councils” and submit restructuring plans to these councils if they decide to fire workers for economic reasons. The economic damage from these rules is [...]
Simple answer: California has restricted oil production for environmentalist reasons while North Dakota hasn’t, as this article discusses. An excerpt: How did North Dakota pull it off? Oil production has driven the recent boom. Drilling restrictions in Alaska, the Gulf of Mexico, and even Canada have given North Dakota an opportunity to expand its oil industry [...]
Oil prices have recently risen, in part because of inflationary monetary policies and in part because the supply of oil from Iran is falling as the U.S. and the EU targets it with sanctions and as Iran has stopped deliveries to Europe even before the sanctions were formally implemented. With the WTI oil price at around [...]
What the debt crisis is ultimately about is the fact that in certain Southern European countries people are spending too much compared to what they earn. With regard to this we are seeing significant progress in Portugal and Italy-but not in Greece. In Portugal, the current account deficit in December fell from €17.2 billion in 2010 [...]
With both the manufacturing and the non-manufacturing surveysindicating increased expansion and with construction spendingand employment increasing, it seems clear that the U.S. economy has started to go from the “”recovery” that feels like a continued recession for most people” state it has been in since the summer of 2009 to something resembling a real recovery, though still nowhere near [...]
To boost economic growth in Canada, Prime Minister Stephen Harper will: -Limit government spending. -Make immigration policy more focused on immigrants that contribute to the economy. -Increase free trade. -Reduce regulatory delay for mines and energy production, thus increasing output of it.
According to preliminary estimates, China’s GDP in 2011 was 47.156 trillion yuan, which at the current exchange rate of 6.3138 translates into roughly $7.47 trillion. By comparison, tomorrow’s GDP report for the United States will likely show that 2011 GDP was roughly, or slightly over $15 trillion. That means that China’s economy is now nearly half [...]
Given the fact that bond yields of most of the euro area countries that were downgraded by Standard & Poors actually fell (contrary to what one might expect), similar by the way to how U.S. treasury yields dropped after they got downgraded by S&P, one can ask if S&P and other credit rating agencies have [...]
Despite a modest recovery the last few months, the U.S. labor market remains depressed as this chart over the employment to population ratio illustrates. Now again the myth that this is caused by machines displacing human workers resurfaces. Yet if that was true then productivity growth would have increased, whereas in reality it has decreased from the [...]
It has become something of an annual tradition at this blog to summarize the yearly movement of a number of important currencies. This year, most currencies didn’t change very dramatically against the U.S. dollar for the year as a whole. 5 currencies rose, three of which (the Australian and New Zealand dollars and the U.K. [...]
The death of North Korea’s dictator Kim Jong-il and his replacement with his son Kim Jong-un, rattled Asian markets in general and South Korea’s in particular. Something that one wouldn’t think should happen considering that North Korea has virtually no trade or other economic interaction with any other Asian country except China-and even for China [...]