This column produces numerous articles on numerous subjects each month. There has been consistent interest in the jobs report data and various columns written each month on the data. Monthly retail sales also often generates interest from the readers of this column. New and existing home data also generates page views. You also like the weekly week in review columns that are published on Saturdays (Today's week in review column was just released.)This month that holds true again
(June 3) The first week in review column was the most read column of June. The week was a crazy week for the economic data. We had a solid ADP payroll report. We had a weaker than expected and better than May 2016 Employment Situation Report. We had one of the strongest Weekly Unemployment Claims Reports since May 1971. This comes on the heels of last week's housing data which showed that the new home sales is still in recovery mode and that we are doing better than we have been since 2008 and that there is an existing home inventory shortage that is holding back existing home sales.
(April 11, 2016) Sometimes a column from a prior month makes it into the top ten of the current month. This week this column wrote an article on the Affordable Care Act (ACA) that was built off of research from other columns. The sister site "Reclaiming Common Sense" published an article during 2016 called "The Unintended Consequences of the ACA: Over-time or Part-time?Tax Surprises?" The ACA is based on full-time equivalent HOURS not just Full-time employees.
(June 17) The week that ended Saturday June 17 saw the release of a few important reports regarding the economic environment. The data was mostly ignored due to the events that have been happening in and around Washington, D.C. The horrific assassination attempt on a group of Republican Congressmen preparing for an annual charity baseball game garnered a huge amount of attention, as it should have. The problem is that the media who often claims that they believe that Congress cannot multi-task proved that they can only function by focusing on one story at a time. A deadly London fire. Check. The acquisition of Whole Foods by Amazon. Check. The assassination attempt on multiple Congressmen. Check. Check. and Check. Meanwhile we received a strong May Retail report that was reported as being weak, we received a fairly solid Consumer Price Index Report, excellent unemployment claims data, and improving new construction data - the best since 2008. Did you hear about any of it? Oh, there was a JOLTS (Job Opening and Labor Turnover Survey) report and a Treasury Debt/Deficit report, too. Click here for that Week in Review.
(June 1) The month started with the release of the ADP jobs report in advance of the monthly government Employment Situation Report. This column has not placed much merit on the ADP report because it only releases seasonally adjusted data. How do they "know" the seasonal adjustments to use if the government does not publish their seasonal factors? That said, there was an "anti-covfefe" when ADP produced its report showing stronger than expected job growth.They reported job growth from April to May in eight out of ten private sectors and May to May growth in all ten sectors. Crickets. is this a "sinfefe?"
(June 26) Sometimes a recently produced article catches fire. The article "Which Way Is The GDP heading" examined the Gross Private Domestic Investment data and the Personal Consumption Expenditure Data and projected an upward revision to the preliminary first quarter GDP numbers and projected a continuing climb for the advance second quarter GDP number.
(July 31, 2014) We should be receiving the annual Medicare and Medicaid Trustees Report and the Annual Social Security (Old-Age, Survivors and Disability Insurance Program) Trustees Report very soon. Recent reports have been calling for increases in the payroll taxes for both Medicare and Social Security. The 2014 article "Are there 56.6 million Medicare Enrollees or 53.9 Million?" examined the data and looked at the elevated levels of children in the CHIPS healthcare program.
(June 10) Another week, another week in review. Another week in review cracked the top ten this month. The "Week of June 10 - Week in Review" included numerous columns disscecting the jobs data. "June 10 Week in Review - Solid Jobs Numbers" reviewed the data comparing President Trump to his predecessors , how men are doing during this recovery, how older workers are doing, and which sectors are still in recovery.
(June 15) We are a consumption based economy. Retail sales are the lifeblood of the economy. The May Monthly and Annual Retail Trades Survey (MARTS) report showed that we are on-track to have the best year of retail sales ever. What Retail Ice Age?
(June 7) There has been considerable discussion that he reason why we have a low participation rate is because older people are retiring. This is a false narrative. The article "Over 60: Participating More Now than May 2007" examined the data by age group. The over 60 population is growing, as is the number of over 60 workers. They are participating more now than they were during May 2007.
(June 30) You people must have been waiting on my June Jobs Forecast column. It was published yesterday and was the tenth most read column of the month. "Jumping June Jobs Potential" forecasts strong worker growth and job growth to be recorded. What will be reported is another question.
This is going to be an extended weekend for most people. This weekend marks the signing of the "Declaration of Independence." The authors of this document were working on a document that could have led to them being tried for treason. They were working during one of the hottest months of the year without air conditioning. They created the framework for the Constitution and the Bill of Rights. The Bill of Rights include the right to assemble, the right to freedom of religion, not the freedom from religion, the freedom of speech, not the freedom from speech, the right to a free press, the right to bear arms, and the right to vote, to name a few. We elected a President, the House of Representatives, and one-third of the Senators during the election of 2016. We expect them to work in our best interest, not theirs. Tell them to get to work.Happy Independence Day!
It's the economy.
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