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28 Jul 2014

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The easy availability of government data on the internet allows unprecedented access to a vast array of information that can be useful for policy-related research. Readers, however, should view empirical research that has not been subjected to peer-review with a skeptical eye.  Empirical evidence that purports to repudiate the law of demand should be scrutinized especially carefully.

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03 Jul 2014

The Welch Consulting Employment Index declined slightly, from 97.3 to 97.1, between May and June.  While the headline Bureau of Labor Statistics (BLS) employment figures showed substantial job creation and a decline in the unemployment rate in June, full-time employment actually dropped in the past month.  The Welch Index measures full-time equivalent employment and shows that despite the relatively strong increase in total employment reported by the BLS over the past few months, full-time equivalent employment, adjusted for population growth and the aging of the workforce, has not changed since March.  

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