Economic Report
Posted on October 2, 2012
Tags: misc
https://www.govinfo.gov/app/collection/erp/2022
1 Public Sector role in Economy
- Over last 40yr, public sector not growing as fast as private sector
- Neglect:
- ports
- power grid
- public education, esp. early childhood
- job training
- Neglect:
- Weak public sector is especially dangerous in black swan events like Covid
- No internet, No remote edu for poor
- Capacity constraint of Ports, shocked supply chain
- Problem + Solutions:
- Prob: Larger earnings gap, weak labor laws
- Sol: Higher min wage, Protect unions
- Prob: Multinational corporates avoid taxes by hiding income in other countries
- Sol: Global cooporation on taxes
- Prob: Larger earnings gap, weak labor laws
- Trends even before COVID
- One of most rapid decline in labor participation
- IMO: Corporate offshoring and refusing to train entry level for white collar work
- One of most rapid decline in labor participation
2 Chapter 2
2.1 Supply chain shock
Freight and logistics supply chains are largely operated by the private sector
https://www.transportation.gov/briefing-room/transportation-supply-chain-indicators
- U.S. container imports & exports at ports, overall
- U.S. container imports, at major ports
- Container ships awaiting berths at U.S. Ports
- Ports of Los Angeles and Long Beach container dwell time
- Sector job openings, hires, and quits
- Truck employment count
- Rail intermodal volume
3 Afterword
3.1 GDP
Typically GDP increase is around 2-4% since 1971.
Outlier: * 2020 Q2, -31.2% * 2020 Q3, 33.8%
3.2 Private investment in Equipment
- 150 in computer equipment
- 350 in other tech-related equipment
- 300 in Industrial equipment
- 200 in Transportation equipment
- 520 in Software IP
- 620 in Research
- 3100 in non-residential structure/construction (office-space,hotels,bars,warehouses)
- 1100 in residential structure/construction
3.3 Race and Income
- White Non-Hispanic : 72k Male full-time, 57k Female full-time, 11% poverty
- 1 big outlier income increase, 2018-2019 +4k
- Black : 51k Male full-time, 46k Female full-time, 28.1% poverty
- 1 big outlier income increase, 2019-2020 +4k
- Asian: 89k Male full-time, 72k Female full-time, 8.1% poverty
- 2 big outlier income increase, 2018-2019 +6k , 2019-2020 +10k
- Hispanic: 46k Male full-time, 40k Female full-time, 17% poverty
- 1 big outlier income increase, 2019-2020 +3k
Analysis: Big leap in income recently from 2018-2020.
Question: Why did Asian income increase rapidly this recently?
