South By North Strategies, Ltd.

Job Openings and Labor Turnover

Around The Dial – Feb. 9

Economic policy reports, blog postings, and media stories of interest:

• Robert Reich doesn’t see a virtuous business cycle.
• Economist’s View worries about state budget problems.
• Marshall Auerback explains why “half measures” don’t cut it.
• Dean Baker asks about “the real effect of Reaganomics.”
• Bob Herbert sees “a terrible divide” in America.

Easier Said Than Done

The Economist is not hopeful about the prospects of corporate tax reform.

Eric Toder of the Urban Institute says “the ten most costly provisions benefiting business investment account for about 92 percent” of revenue losses over the next five years. First on his list is the deferral of foreign-source income of American multinational firms. This is what allows a company like GE to pay an extremely low rate. And it just so happens that GE’s CEO is now the chairman of Mr Obama’s Council on Jobs and Competitiveness. As Mr Toder states, “the corporate leaders now advising the president are likely pushing him to move in the opposite direction, following our major trading partners, who exempt foreign-source income.” Go down the rest of Mr Toder’s list and you’ll find more cause for pessimism. The expenditure accounting for the second largest loss of revenue—the accelerated depreciation of machinery and equipment—has just been increased. The credit for research and development is unlikely to be cut, as are credits for low-income housing. The one area Mr Obama has specifically targeted—tax breaks for fossil fuels—is relatively small (and unpopular).
…
In some cases the existing credits are worthwhile. And taxing multinational corporations in a way that keeps them competitive and benefiting America is difficult, to say the least. But if the administration wants to substantially lower the corporate-tax rate, then it must take on its most expensive provisions. And if it wants to achieve reform, it must take on all those who benefit from the current system….

State Of Working America: 2011

The Economic Policy Institute (EPI) recently published the newest edition of The State of Working America, a regular compendium of data related to the labor market. Covered topics include jobs, wages, income, mobility, wealth, poverty, and health. Data also are broken out by such demographic factors as  race and ethnicity, gender, age, education level, family type, immigration status and union membership.

Click on the graphic below to access the report.

Starting this year, The State of Working America is being published electronically, not as a physical book. EPI also is publishing a series of related reports and analyses based on the underlying data. The first publication, Failure by Design, was released last month.

Around The Dial – Feb. 8

Economic policy reports, blog postings, and media stories of interest:

• Naked Capitalism asks about the role of income inequality in the crisis.
• Econbrowser sees improvements in economic conditions.
• Paul Krugman looks at the causes of high global food prices.
• Simon Johnson points out that “too big to fail” is still with us.
• The National Skills Coalition is concerned about federal workforce funding.