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Alfred Tella, Real Clear Markets The weak showing in May nonfarm payroll jobs — up 69,000 — failed to pass the Bureau of Labor Statistics (BLS) test of statistical significance and so in technical parlance the change was not different from zero. The May 0.1 uptick in the unemployment rate to 8.2 percent also flunked the significance test as did the recorded rise in civilian employment from the government's household survey. Ditto for the change in payroll jobs in April, originally reported at a statistically significant plus 115,000 but subsequently revised to plus 77,000, falling below the significance threshold. The monthly change in one key labor market indicator, however, did pass the significance test — the labor force participation rate. It rose 0.2 in May, from 63.6 to 63.8 as men, women, and teenagers entered the work force. Had the participation rate not risen last month, the unemployment rate would have fallen to 7.9 percent. Read More
TARIFF-IED: Trade Talk with Matthew Rooney
This week, trade relations between the U.S. and India are continuing to escalate. Earlier this month, the U.S. stopped granting India special trade privileges by taking away the Generalized System of Preferences (GSP) program, and India has responded by enforcing more tariffs of its own. The George W. Bush-SMU Economic Growth Initiative Director Matthew Rooney breaks down the trade conflict: For more information on trade groups and the global economy, visit www.bushcenter.org/scorecard.
How Trade Spreads Holiday Cheer
It is projected that the average American household will spend more than $1,000 during the holidays this year.
Deporting Salvadorans May Lead to Economic Decline
We should think carefully about a policy whose major impacts are likely to be reductions in employment and economic activity here at home, and increased instability and lawlessness along our borders.
Bush Institute's Laura Collins Talks Immigration on Good Morning Texas
Last week, Deputy Director of Economic Growth at the George. W. Bush Institute Laura Collins spoke with Good Morning Texas about immigration myths. During the interview, Collins had the opportunity to set the record straight and address common misconceptions about legal immigrants living in America today. The segment was inspired from facts released earlier this fall by the Bush Institute in the third edition of America's Advantage: A Handbook on Immigration and Economic Growth. Watch the full Good Morning Texas interview here.