Manufacturing jobs dry up in Southern Illinois

Manufacturing jobs dry up in Southern Illinois

By Benjamin Yount / Heartland Institute Honeywell International Inc., a U.S. producer of consumer and commercial goods, announced it will indefinitely close the Honeywell Uranium Hexafluoride Processing Facility in Metropolis, Illinois in the first quarter of 2018, laying off at least 170 employees and 100 contractors. The Processing Facility, also known as the Honeywell Metropolis […]

S&P declares Venezuela in ‘selective default’

S&P declares Venezuela in ‘selective default’

Standard & Poor’s declared Venezuela in “selective default” on Monday, after it failed to make $200 million in payments on its global bonds, becoming the first credit ratings agency to do so. The agency said it acted after a 30-day grace period had passed on payments on two bonds. “We have lowered two issue ratings […]

Manufacturing production unexpectedly fizzles: No hurricane bounce

Manufacturing production unexpectedly fizzles: No hurricane bounce

By Mike “Mish” Shedlock Industrial production in September rose 0.3% vs an expected gain of 0.2%, but the strength dies there. Economists expected a rebound of 0.4% in manufacturing, led by autos, but the gain was an anemic 0.1%. MarketWatch reports Industrial production climbs 0.3% in September in face of hurricane headwinds. What happened: Most industries […]

New York’s clean energy mandates could cost $1 trillion, study says

New York’s clean energy mandates could cost $1 trillion, study says

By Tim Benson / Heartland Institute New York’s Clean Energy Standard (CES), a renewable energy mandate, could cost the state’s ratepayers and businesses close to $1 trillion over the course of the program. That’s the conclusion of a new study from the Manhattan Institute for Policy Research, by Jonathan A. Lesser, president of Continental Economics. The Clean […]

Median incomes rise for the first time since Great Recession

Median incomes rise for the first time since Great Recession

Median household incomes were higher in 2016 than ever before, surpassing a record set nearly two-decades ago in 1999, according to U.S. Census Bureau data released Tuesday. Those in America’s middle class earned an average of $59,039 in 2016, up nearly $1,000 from the 1999 high of $58,655. The figures for 2016 mark the second […]

How a tiny portion of the world’s oceans could help meet global seafood demand

How a tiny portion of the world’s oceans could help meet global seafood demand

By Halley Froehlich, Postdoctoral Scholar, National Center for Ecological Analysis and Synthesis, University of California, Santa Barbara and Rebecca Gentry, Ph.D. Candidate, University of California, Santa Barbara. Pike Place Market, Seattle. Doug Kerr, CC BY-SA Seafood is an essential staple in the diets of people around the world. Global consumption of fish and shellfish has […]

How middle-class Europeans fare under the welfare state

How middle-class Europeans fare under the welfare state

By Daniel J, Mitchell / FEE ccording to progressives like Bernie Sanders, European nations have wonderfully generous welfare states financed by high tax rates on the rich. They’re partly right. There are very large welfare states in Europe (though I wouldn’t use “wonderfully” and “generous” to describe systems that have caused economic stagnation and high levels of unemployment). But […]

Bogus Fed research claim: “Gold Standard didn’t really tame inflation”

Bogus Fed research claim: “Gold Standard didn’t really tame inflation”

By Mike “Mish” Shedlock The Wall Street Journal reports Gold Standard Didn’t Really Tame Inflation, New Research Says. The research was by St. Louis Fed economist Fernando Martin. Curiously, his study precisely shows that the gold standard did indeed tame inflation. Let’s investigate Martin’s bogus claim and his peculiar logic in making it. In his email to the […]

Business leaders see government policies driving Pennsylvania’s population dip

Business leaders see government policies driving Pennsylvania’s population dip

By Michael Carroll / Watchdog.org Pennsylvania business leaders see the recent decline in the state’s population as a result of tepid economic growth, an oversized public sector and an overall lack of competitiveness. Pennsylvania’s population dropped by more than 7,600 between 2015 and 2016, according to an economic outlook report from Wells Fargo Securities.  The […]

Growing number of companies complain about inability to find workers: So why is wage growth so low?

Growing number of companies complain about inability to find workers: So why is wage growth so low?

  By Mike “Mish” Shedlock Since 2010, the highest year-over-year wage increase in any month for production and nonsupervisory employees is near 2.6%. For a two-year stretch between summer of 2011 and summer of 2013 wage increases less than 2% were the norm. Yet, firms complain about labor costs while simultaneously complaining about the lack of workers. […]

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