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.

As reported by writer Elizabeth Olson, last year’s law school graduates landed fewer jobs in private practice than any other graduating class in the last two decades.  Relevant data are summarized in a report entitled Employment for the Class of twenty fifteen – selected findings. 

Social Cohesion Among Workers - 9/5/16

Sep 9, 2016

As reported by the Wall Street Journal, economists at Columbia University and the University of California, Berkeley, have shown that workers seem to be highly averse to pay inequality.  The new study reveals sharp declines in output, attendance and social cohesion among groups of workers who are paid differently compared with groups in which everyone is paid the same. 

On average, those who own homes in cities as opposed to those who own in the suburbs continue to be more likely to be underwater on their mortgages.  According to real estate researcher Zillow, fourteen percent of homeowners in urban areas owed more on their mortgages than their homes were worth during the second quarter. 

According to a new analysis released by the Federal Reserve Bank of New York, America’s economy has finally begun to create more middle class jobs.  The report indicates that between twenty thirteen and twenty fifteen, employers added nearly two point three million workers earning between thirty thousand dollars and sixty thousand dollars a year, primarily in fields like construction, social services, transportation and education. 

Recently released data presented in a report from the Congressional Budget Office indicate that U.S. family wealth totaled sixty seven trillion dollars in twenty thirteen.  The report also indicates what we all know – that that wealth is shared rather unequally. 

Perhaps the most disappointing aspect of economic performance in America during the early stages of the millennium is summed up in one key metric – median household income. 

Measured in twenty fourteen dollars, median household income hit an all-time high in nineteen ninety nine at nearly fifty eight thousand dollars.  As reported by Bloomberg, two years ago, it stood at well below fifty four thousand dollars having fallen by more than seven percent from its all-time high. 

Despite an official unemployment rate below five percent, millions of jobs created since the previous recession, and the recent attainment of record stock prices, Americans remain downbeat regarding their economy. 

Get ready for another weekend of round-the-clock coverage of the U.S. election cycle.  For months, many economists have expressed skepticism regarding whether or not the pending November twenty sixteen elections were impacting the economy. 

While consumers continue to shun department stores in favor of purchasing merchandise online or consumer services like entertainment and travel, they continue to spend enormously on their homes. 

Retail Sales - 8/24/16

Aug 30, 2016

America’s economic recovery remains consumer led.  With government outlays expanding very slowing, business investment remaining soft, and erratic export growth, consumers have represented the only significant prime mover.