24 Jan

A blog is a public or private discussion or information site consisting of mainly opinion entries or posts. It is different from other forms of informational media because, blogs are usually made and maintained by a small group or individuals that are not paid to do so. Also, other people and readers are able to comment on the writings.

http://davegiles.blogspot.com/

http://econompicdata.blogspot.com/

http://econometricsstuff.blogspot.com/

I found this first blog on econometrics on blogspot. This is a blog by a professor of economics at Victoria University. This blog is updated every few days. The next link I found was on economic statistics nothing is specifically focused on in this blog it appears to be general statistics of the U.S. economy. This blog is updated weekly but appears to have stopped since the summer. The last blog link is another econometric blog by another professor and is updated every few months. Each of these blogs have different approaches to talking and presenting information to their audience. I think it is interesting how diverse just three blogs are and two of which are on the same subject.

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Labor Strikes

5 Dec

These labor strikes across the nation at Wal-Marts are pretty interesting because the company has been ridiculed about its’ employee practices for several years. I think that this strike will benefit the workers that have been unfairly treated by this company. But, there are two sides to this situation. If there are more employee benefits and higher wages, then it would be up to Wal-Mart as to whether the company would take the decrease in profits or simply raise it’s prices and put the burden on the consumer. I believe they will do the latter if the strike is successful and if the workers are able to unionize. This also goes along with what we read about for the company Hostess and the bakers union. If the union demands more from the firm, this could lead the firm to ‘go under’. I believe something similar happened with the United States Steel industry. There was a union crisis in 1952 that was never resolved and greatly affected the number of steelworker jobs in the US. There are both benefits and dangers when it comes to unions. But, the article about the fast food industry striking and wanting to unionize I think is probably something that the workers should try and do. The companies or owners of these chains should provide geographical pay differentials for its’ employees especially when working and living in an expensive place such as New York City. I think the article said the workers are paid minimum wage but the average food worker in NY is paid 9 dollars an hour. This is a case in which the workers would benefit greatly and the firms already make enough profit in such high volume areas that they would not become bankrupt. Having worked both union and non-union construction in New York, I can say that it is great to have the extra money and benefits from a union job. But, there was a hierarchy in the union where new union members were usually not given a job because the building was given to a non-union contract. So, either these workers were out of the job or being paid above the average. It is difficult to say whether or not a union is beneficial when companies could simply sell their assets and everyone loses their job or workers need a raise for their cost of living. 

26 Nov

In the bureau of labor statistics report on the regional and state unemployment estimates, the state of Pennsylvania is mentioned a few times. Once for non-farm payroll increases, another for over the month increases in employment from august to September (Pennsylvania was the largest), lastly the annual changes in employment from 2011 to September 2012. The last statistic was, to me, the most interesting since it is from a longer time frame than any of the other statistics that took place over a one-month basis. The other statistics point out that over the past month there has been a significant increase in employment in Pennsylvania. But, looking at the annual changes in employment across the nation, Pennsylvania has not had as big a change in its employment numbers as other states have. Even as a percentage of the total number of people employed, Pennsylvania is not at the top. Seasonally adjusted is the statistical method for removing the seasonal component of a time series. This is used when analyzing non-seasonal trends to reveal trends in the labor market. Changes in employment depend significantly on seasonal components. It is important to free the unemployment rate of its seasonal aspects. What this particular statistic shows is that there is growth in the economy of Pennsylvania. Even though there may be new people joining the work force, there is still significant job growth over the past year. I found an article online that pertains to this statistic “Pa. unemployment rate ticks up”.

http://www.bizjournals.com/pittsburgh/news/2012/10/19/pa-unemployment-rate-ticks-up.html

The article attributes the increase in job growth to service providing industries, which had a record high of 4.9 million. The article had the same conclusions in the fact that the increase in the labor force was attributed to an increase in more people entering or re-entering the labor force.

Aside

labor econ

22 Nov

In the bureau of labor statistics report on the regional and state unemployment estimates, the state of Pennsylvania is mentioned a few times. Once for non-farm payroll increases, another for over the month increases in employment from august to September (Pennsylvania was the largest), lastly the annual changes in employment from 2011 to September 2012. The last statistic was, to me, the most interesting since it is from a longer time frame than any of the other statistics that took place over a one-month basis. The other statistics point out that over the past month there has been a significant increase in employment in Pennsylvania. But, looking at the annual changes in employment across the nation, Pennsylvania has not had as big a change in its employment numbers as other states have. Even as a percentage of the total number of people employed, Pennsylvania is not at the top. Seasonally adjusted is the statistical method for removing the seasonal component of a time series. This is used when analyzing non-seasonal trends to reveal trends in the labor market. Changes in employment depend significantly on seasonal components. It is important to free the unemployment rate of its seasonal aspects. What this particular statistic shows is that there is growth in the economy of Pennsylvania. Even though there may be new people joining the work force, there is still significant job growth over the past year. I found an article online that pertains to this statistic “Pa. unemployment rate ticks up”.

http://www.bizjournals.com/pittsburgh/news/2012/10/19/pa-unemployment-rate-ticks-up.html

The article attributes the increase in job growth to service providing industries, which had a record high of 4.9 million. The article had the same conclusions in the fact that the increase in the labor force was attributed to an increase in more people entering or re-entering the labor force.

10 Sep

The unemployment rate went down from 8.2% to 8.1% this past month indicating that the economy is showing slow but positive improvement in growth. This .01% drop in unemployment indicates that payroll jobs have risen by around 96,000. Over the past two years the unemployment rate has dropped by about 2% total. Both Romney and Obama’s aim is the growth of small businesses. There should be a focus on improving the diligence process by financial institutions in which they evaluate if a small business has enough credit for them to provide a loan. These loans to small businesses are what will continue to help small town unemployment drop continually. As small businesses receive these loans, their production will increase and they will become more efficient thus creating new jobs and leading to an overall better economic environment. To provide a specific example, the city of Harrisburg represents a place in which both small business and big business has died out significantly over the past twenty years. There are many cities like this across the United States which, if given attention to, would help the overall economic climate. In my opinion, the key to improving the job climate in cities like Harrisburg is small financial institution providing state and federal institutional loans to small businesses. In a blog posted on the New York Times, Paul Krugman describes the employment population for prime rate adults between the ages of 25 and 54. While this is a different statistic than the “unemployment rate” it gives the same overall picture that in the past four years there has been a plunge in unemployment and now it has stabilized and is wavering around the same level. There has been no significant rise or drop and Romney is campaigning on the fact that Obama has done not enough to decrease this statistic. While Krugman’s article was not very long and not a strong opinion piece, I felt it was interesting to look at a statistic I had never encountered before. In addition, Krugman, in a prior blogpost stated that there really is nothing new regarding the job market. The U.S. economy is indeed adding jobs but not at a fast rate.

 

 

http://krugman.blogs.nytimes.com/2012/09/07/no-news-on-jobs/

http://krugman.blogs.nytimes.com/2012/09/07/the-employment-situation/

post 1

3 Sep

Having read several sports blogs, there seems to be a theme of opinionated articles or “posts” on these sites. Most of the blogs I found online had only one author that gave their opinion on one of the leading topics in sports. One of the blogs offered minimal bias and simply presented the facts about a certain player and situation. Although, most of the blogs offer only an opinion of the author but, this is why most people either subscribe or follow a particular blog. People read other peoples opinions because they relate to them or they find what they say about a particular subject interesting. Reading blogs will be helpful because learning about different points of view should help in both developing my understanding and developing my own opinion on different topics. Unlike a text book that only has one stream of thought, different sources will have diverse opinions. Having various points of view is positive when dealing with complicated subject matter and I can compare and contract these views to form a whole picture of the subject.

Hello world!

3 Sep

Welcome to WordPress.com! This is your very first post. Click the Edit link to modify or delete it, or start a new post. If you like, use this post to tell readers why you started this blog and what you plan to do with it.

Happy blogging!