The Morning Economic Report | WYPR

The Morning Economic Report

Monday-Friday at 7:33 am

Anirban Basu, Chariman Chief Executive Officer of Sage Policy Group (SPG), is one of the Mid-Atlantic region's leading economic consultants.  Prior to founding SPG he was Chairman and CEO of Optimal Solutions Group, a company he co-founded and which continues to operate. Anirban has also served as Director of Applied Economics and Senior Economist for RESI, where he used his extensive knowledge of the Mid-Atlantic region to support numerous clients in their strategic decision-making processes.  Clients have included the Maryland Department of Transportation, St. Paul Companies, Baltimore Symphony Orchestra Players Committee and the Martin O'Malley mayoral campaign.

He is the author of numerous regional publications including the Mid-Atlantic Economic Quarterly and Outlook Maryland. Anirban completed his graduate work in mathematical economics at the University of Maryland.  He earned a Masters in Public Policy from Harvard University in 1992.  His Bachelors in Foreign Service is from Georgetown University and was earned in 1990.

Home to Silicon Valley, the life sciences cluster in San Diego and Hollywood, California has emerged as one of America’s more rapidly expanding economies.  Still, a recent study by CoreLogic finds that for every homebuyer coming into that state, there are three Californians selling their homes and moving elsewhere. 

Earlier this month, you got to sleep in an additional hour.  That hour felt terrific, though you weren’t awake to realize it.  While many people enjoy daylight savings this time of year, and dislike it intensely during the spring, the presumption may be that there is little economic impact. 

Detroit is making a comeback.  As reported by the Wall Street Journal, the unemployment rate in the Detroit metropolitan area sat at five point four percent in September.  Detroit was one of the hardest hit communities during the recession, with a regional unemployment rate that peaked above seventeen percent in mid-two thousand and nine. 

According to the U.S. Environmental Protection Agency, the average fuel economy of twenty fifteen model year vehicles increased by half a gallon to a record high of nearly twenty five miles per gallon.  Mazda had the highest average fuel economy at nearly thirty miles per gallon.  Fiat Chrysler had the lowest, at less than twenty one miles per gallon. 

Average hourly pay in America rose by ten cents an hour last month to an average of twenty five dollars and nine two cents according to the U.S. Labor Department.  That’s two point nine percent higher that it was a year ago, the sharpest twelve month increase since two thousand and nine. 

There are a significant number of people who distrust government economic data.  A Marketplace Edison research poll, for instance, found that roughly a quarter of Americans “completely distrust the economic data reported by the federal government."

It’s Monday and for many of us that means the onset of a new workweek.  One of the goals for each of us is return home safely after each and every working day.  Unfortunately, there are a number of occupations in which that is unusually difficult. 

The Millennials, those young adults among us, are now the largest generation in the country.  Collectively they have annual spending power of six hundred billion dollars and each member spends an estimated eight five dollars per day on average. 

There may be some people who are nervous about our near-term economic future.  While it is true that the economy continues to churn out new employment opportunities, rising home prices, and more output, the recovery is now in its eighth year. 

As pointed out by writer Ian Talley, the weak global economy may be producing at least one benefit – it is forcing the adoption of economic reforms in some of the worst places in the world in which to conduct business.  The World Bank ranks one hundred and ninety economies around the world in terms of their business climate. 

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