Child poverty in America jumped from 5.2% in 2021 to 12.4% in 2022, as measured by the Supplemental Poverty Measure (SPM). As you can see from this chart, both overall and child poverty in the...
Category: Economics
60% of executives expect to replace more full-time employees with independent contractors, according to Mercer's 2023 global talent trends survey. The term "gig economy" was coined in 2009...
Labor Economics: Extensive Margin vs Intensive Margin (with Formulas)
TL;DR: Extensive margin and intensive margin are both abstract concepts that lack universally agreed upon definitions. However, extensive margin usually means something like "the total number of...
Immigrants’ Share of the U.S. Labor Force is the Highest in 27 Years
In 2022, people born outside the U.S. made up 18.1% of America's labor force, which is the highest percentage in any year since 1996. In fact, more than half of the 3.1 million people who joined...
Biden’s 2024 Budget Proposal: More Taxes, Free Kids, Free Retirement
"Nothing is so permanent as a temporary government program." Milton Friedman President Biden proposes making all temporary emergency spending programs permanent. I'm being cheeky, but only...
"There were at least 1,164 train derailments in the U.S. in 2022, but most occurred in rail yards and didn't involve hazmat spills." On January 6, 2005, a malfunctioning railroad switch...