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.

Many key U.S. industries are becoming more concentrated, meaning that leading companies are increasing their market share and acquiring greater market power. 

Taking care of and educating children is hard work, and that’s true irrespective of a child’s age.  As indicated by writer Melanie Trottman, some people are far better compensated for their work overseeing children than others.  In many states, the average worker who cares for three year olds earn half what a worker earns teaching a five year old. 

Two states, Maine and Florida, will probably end twenty sixteen with more elderly residents than children.  That’s unprecedented in U.S history, but which will soon be replicated in a number of other U.S. states.  As reported by the Wall Street Journal, newly released Census Bureau estimates that pertain to July twenty fifteen indicate that a year ago, Maine was home to just two percent more children under the age of eighteen than adults aged sixty five or older. 

The conventional wisdom is that many of world’s most advanced economies are stuck in a rut.  This includes many European economies that are barely expanding, Japan’s near recession economy, and America’s two percent expansion.  But as pointed out by writer Adam Creighton, one could embrace a different view of the data – one that suggests that by some measures, the job market in wealthy nations is faring better than at any time since the nineteen seventies. 

For a few days, Americans were captivated by Britain’s vote in a referendum to leave the European Union.  While the economic impacts of Brexit on England and on the European continent remain unclear, there is a consensus emerging that Britain’s departure from the European Union will have only negligible impact on America. 

For several years, economists have been unnerved by government published estimates of first quarter gross domestic product.  With little exception, data characterizing economic performance during the first three months of a given calendar year have been disappointing.  Typically, the U.S. economy bounced back during second quarters. 

If you are trying to raise a young family and you are having difficulty making ends meet, know that you are hardly alone.  As an example of the myriad pressures facing young parents, child care expenses have climbed nearly twice as rapidly as overall prices since the recession ended seven years ago according to Labor Department data. 

Minimum Wage - 7/15/16

Jul 19, 2016

Precisely two weeks ago, fifteen U.S. cities, states and counties raised their minimum wages in what the Wall Street Journal refers to as a mid-year burst that reflects legislative momentum to boost pay floors around the nation even as federal legislation stalls.  The two states raising their respective minimum wages were Maryland and Oregon. 

WorkAdvance - 7/14/15

Jul 19, 2016

There have been many ideas put forth to help rebuild America’s middle class.  Some have proposed higher minimum wages – others have proposed large tariffs on foreign goods and/or vastly reduced levels of immigration.  Some economists have scoffed at such ideas, favoring solutions that make workers more valuable to employers through training. 

According to Oslo, Norway-based Rystad Energy, the United States holds more recoverable oil reserves than any nation in the world, including Saudi Arabia and Russia.  The newly available data indicate that more than half of America’s remaining oil reserves are in the form of shale oil.