Archive for January, 2012
How today’s globalization of manufacturing has changed American labor market.
How different are the spillover effects of manufacturing jobs vs. service jobs.
It’s one of the fundamental assumptions in economics that people’s welfare will improve with more choices, and more varieties. In the following TED video, Sheena Iyengar at Columbia challenges such view with some vivid examples. She also offered some clever ways to avoid the problem of choice-overload.
On Thursday, the 4-week moving average of weekly jobless claims reached the lowest level since April 2008. The US labor market continues to show sign of thawing.
If this trend continues, consumer confidence is likely to bounce back. Then the US will be on the track of a virtuous cycle: business investment will follow, so will bank lending. We need to wait for more data in coming weeks to confirm such trend.