The economist predicted that the Fed would need to push unemployment above 5 percent to contain price growth. Whoops.

There is no perfect metric for employment as it relates to the health of the economy as a whole. Context is necessary for determining whether changes in these metrics are good or bad. People think of having less work as a bad thing but, over time, the number of hours worked has decreased pretty consistently over time. You can work less hours today for a better standard of living than people in the prior two centuries. In the context of the last century and a half as a whole, this is a good thing.

Where are you headed this summer? Check out this graph on the impact of travel and tourism on GDP across the world! #TeachEcon pic.twitter.com/YX7krjsC4p— NAEEnet (@NAEEnet) May 31, 2023

With inflation above 100%, Argentines have devised a number of strategies to deal with the crisis.

(Bloomberg) -- Argentina will unveil a set of emergency measures in a bid to stem additional currency losses, including a large increase to its key interest rate, as inflation spirals out of control in the run up to presidential elections, according to officials at the Economy Ministry and the central bank.Most Read from BloombergTurkey Latest: Erdogan Says Unclear If Vote Will Go to RunoffRemote Work Comes With Daytime Drug and Drinking HabitsTurkey Poised for Vote Runoff as Erdogan Ballots Fal

The Jobs Calculator calculates the net employment change needed to achieve a target unemployment rate after a specified number of months. The user can adjust the target unemployment rate, the number of months, and the assumed labor force growth.

Worksheet – (Un)employment Related news articles: Small businesses face hiring challenges despite fears of recession (Forbes, February 28, 2023) and No matter the market, there's always a demand for great talent: Here's how to cultivate and keep it (Forbes, April 10, 2023) Summary: This workshee...

Worksheet – GDP Related news articles: Consumption, the biggest component of US GDP, looks fragile (Fxcm.com, April 2023) and Americans are flocking to movie theaters. Could it be a recession warning? (Quartz, April 21, 2023) Summary: This worksheet could be used for in-class or homework practice...

An inverted yield curve is an unusual state in which longer-term bonds have a lower yield than short-term debt instruments.

“RT @hannahgabes: I think about this every time I teach automatic stabilizers”

Inflation has risen steadily since 2021, with prices for some necessities increasing by 20% in that time.

The Economic Forces Behind Persistent Inflation

Hawkish comments by Federal Reserve Chairman Jerome Powell helped push a closely watched part of the U.S. Treasury yield curve to its deepest inversion since 1981 on Tuesday, once again putting a spotlight on what many investors consider a time-honored recession signal.

It’s preceded every recession since 1960.

The Federal Reserve will be hard-pressed to lower inflation without a significant blow to U.S. economic activity and a sharp rise in unemployment, and even then may miss its 2% inflation target for years to come, a group of top economists concluded after a review of central banks' past inflation battles.

The Bureau of Labor Statistics has updated its CPI formula to make it better reflect changes in consumer spending.

We can learn more from boxes than you might expect.

How has inflation impacted everyday goods like milk, flour, or fuel? This chart shows the annual change in the price of basic daily goods.

Cartoon of the Day #inflation #wages #economyhttps://t.co/8IQtr15pbm pic.twitter.com/DiaViXnJc4— Hedgeye (@Hedgeye) January 30, 2023

Pretty, pretty good.

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U.S. retail sales fell by the most in a year in December, pulled down by declines in purchases of motor vehicles and a range of other goods, putting consumer spending and the overall economy on a weaker growth path heading into 2023.

Bird flu is driving up egg and turkey prices — and killing millions of animals. Why won’t we vaccinate against it?

OMAHA, Neb. (AP) — Chickens may not be able to fly very far, but the price of eggs is soaring. A lingering bird flu outbreak, combined with soaring feed, fuel and labor costs, has led to U.S. egg prices more than doubling over the past year, and hatched a lot of sticker shock on grocery aisles.

The answer to when inflation will revert to its long-run average likely depends on whether we are still in the “Great Moderation” regime of less volatile inflation.

New data on Friday showed that job growth remained strong, despite widespread fears of a recession.

Graph and download economic data for Noncyclical Rate of Unemployment from Q1 1948 to Q4 2032 about NAIRU, long-term, projection, unemployment, rate, USA, labor underutilization, headline figure, civilian, 16 years +, labor, and household survey.