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.

Remember when we were young and looked forward to those summer unpaid internships.  The goal was to make connections, to learn a business, and to add to our resume.  Internships still exist of course, but in many instances, they are very well paid. 

There was a tidal wave of births following the end of World War II.  That gave rise to the generation we know as the Baby Boomers.  For many years, these Baby Boomers dominated America’s demographic landscape, easily existing as the nation’s largest population cohort. 

Even as many Americans struggle with paychecks barely expanding at the pace of inflation, the wealthy continue to experience both chunky income and wage gains.  Many companies have come to recognize the presence of this elite class, and are creating new programs to cater to them. 

Despite steady job growth, the pace of raises and other compensation gains for U.S. workers has stagnated over the past year.  As reported in the Wall Street Journal, the employment cost index, a broad measure of workers’ wages and benefits, expanded at a seasonally adjusted zero point six percent during two thousand and sixteen’s initial three months. 

More than one hundred and fifty one million Americans are employed, a number that has expanded sharply over the past several years.  Collectively, Americans are also working more hours.  As indicated by writer Neil Irwin, the number of hours of effort supplied by Americans grew one point nine percent during the twelve month period ending this March. 

When people speak of economic growth in the U.S., they often refer to state level growth.  For instance, newspaper articles regularly feature the pace of job growth in Maryland or the state’s unemployment rate, presently below five percent. 

For generations, U.S. population and economic activity has been moving away from the Northeast and the Rust Belt and toward the South and the West.  The nation has also tended to become more suburban over time. 

According to a new report from the Center for Global Policy Solutions, the number of businesses owned by women of color expanded faster than almost every other demographic group during the years during and after the recession.  Research indicates that entrepreneurs of color – both men and women – represented a key driver of business and employment creation between two thousand and seven and twenty twelve.

During the Great Recession, the number of stay-at-home fathers surged.  That had a lot to do with the characteristics of the recession.  Not only did the nation lose millions of jobs, but a disproportionate share of those jobs were lost in male dominated industries like construction and manufacturing. 

The official unemployment rate in the US is five percent.  But when many people hear that statistic, they drift toward skepticism.  There are probably many reasons for this, but one relates to the fact that we can all observe much idleness in the America, including among the young.