Browse by Tags

Global Economic Watch » All Tags » Phil Izzo (RSS)

KnowNOW!

Global Economic Watch

Syndication

Recent Posts

Tags

View more

Other Useful Blogs

Archives

  • WSJ Map: Food Stamp Use by State

    More American families are participating in the federally supported food stamps program this year, Phil Izzo reports in the Wall Street Journal. Izzo notes that enrollment in the program has increased 7.8%, and the actual number of Americans receiving food stamps has risen to 15% of the population. At Real Time Economics , Izzo shares an interactive map to show how enrollment varies from state to state. Click here to use the map. Read Food Stamp Use on the Rise here .

  • WSJ Forecasting Survey: Another Decade of Stagnant Income

    The first decade of the twenty-first century brought declining incomes for American workers. And it doesn't look like we'll see a rebound any time soon. Economists surveyed for the Wall Street Journal 's forecasting survey predict that the US median income, adjusted for inflation, will not reach 2000 levels again until at least 2021. Phil Izzo reports on the findings in this WSJ video:

  • WSJ Forecasting Survey: 25% of Jobs Lost Are Not Coming Back

    The latest Wall Street Journal's Forecasting Survey is out, and the participating economists largely share the White House's expectations for job growth in 2010. They see a very small drop in unemployment numbers--predicting, on average, the jobless rate to be at 9.4% by the end of the year. They also expect that a lot of the jobs lost during this recession aren't coming back. On average, the economists expect 25% of the jobs lost will need to be made up in new or different sectors. The economists also expect GDP to grow at about 3% for the rest of the year--and don't see the 5.7% growth we saw last quarter continuing into 2010. Here's a look at the GDP trend as they see it (more interactive charts from the Journal are available here ): Economics Editor David Wessel joined the Journal's News Hub team to discuss the jobs data: Read more about the survey here .

  • Economists Continue Optimistic Streak in WSJ Forecasting Survey; Also Think the Government Should Not Have Let Lehman Collapse

    Most economists surveyed for the Wall Street Journal 's monthly forecast see a net job increase coming over the course of the next 12 months. The Journal's Phil Izzo points out that this is the first time in over a year that they have projected job growth. As a group, the economists still expect unemployment to top 10%--so that job growth is going to take a little while and things are going to get worse in the labor market before they get better. The survey shows relative optimism for growth in the coming months, with a prediction of 3% growth in the current quarter. Here's a look at the GDP projections over the course of the recession: Click here for interactive versions of the Journal's helpful graphics and charts associated with the forecasting survey. Given that we are at the one-year anniversary of the collapse of Lehman Brothers, one of the more interesting questions on the latest forecasting survey was whether the government should have saved the investment banking giant. Most of the economists who responded to that question thought the government made a mistake. Kelly Evans and Phil Izzo discuss that and other aspects of the survey in this video: Read the accompanying article on the survey here .

  • Bad GDP Numbers, But Many See Good Signs

    The Commerce Department released some bad numbers today. The department's estimated GDP showed the US economy contracted at a rate of 6.1% in the first quarter of 2009. It was the third straight quarter in which GDP went down--the first time that has happened since 1975. While the data showed a decline was not the least bit surprising, the rate was. The Wall Street Journal reports that economists surveyed by Dow Jones Newswires had predicted a 4.6% drop. And yet, as the Wall Street Journal 's Phil Izzo and Kelly Evans point out, it is possible to find silver linings in the Commerce Department's report. Christine Romer , chair of the Council of Economic Advisers, also makes a case that there are some good signs in the data. Here's what she told Reuters : "There's perhaps a little bit of a silver lining," Christina Romer, the head of the White House Council of Economic Advisers, told Reuters Financial Television in reaction to news the U.S. economy contracted at a 6.1 percent annual rate in the first quarter. "To the degree that that's a sign that firms are bringing down some of their inventories ... that combined with consumers coming back to life could mean we need to start to producing things again," she said. "It could put us in a position for perhaps a less dreary number going forward." Read the Wall Street Journal report on the GDP numbers here . And David Wessel's 12 Reasons to be (Economically) Optimistic here .