News
Wall Street Journal | Minimum Wage Backfire
If there’s a silver lining for McDonald’s in Tuesday’s dreadful earnings report, it is that perhaps union activists will begin to understand that the fast-food chain cannot solve the problems of the Obama economy. The world’s largest restaurant company reported a 30% decline in quarterly profits on a 5% drop in revenues. Problems under the golden arches were global—sales were weak in China, Europe and the United States.
Wall Street Journal | U.S. Jobless Claims Remain Near 14-Year Lows
The number of new claims for jobless benefits rose last week but remained near 14-year lows, the latest sign of an improving labor market.
Blogs
Wall Street Journal | Unemployment Rate Below 5% in 15 States
The unemployment rate stood below the 5% line in 15 states in September, signaling a return to healthier labor-market conditions in a growing swath of the country.
AEI | An amazing chart of an amazing job-creating state; we all owe a debt of gratitude to ‘Saudi Texas’ and the shale boom
The chart above shows a most amazing economic phenomenon: Since December 2007 when the Great Recession started, Texas civilian employment has increased by 12% and by more than 1.32 million jobs, from just over 11 million jobs in December 2007 to 12.32 million in September of this year (see blue line in chart). In contrast, civilian employment in the other 49 states without Texasis still 0.73% and almost one million jobs below the December 2007 level (see red line in chart) – 134.27 million non-Texas jobs in September vs. 135.26 million in December 2007.
