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PSA for Followers of Public.SQ:

If you enjoy the blog, please subscribe to the monthly newsletter. It’s a narrative take on the events of the past thirty days that most major news outlets fail to provide their readers. Topics covered will include economics, politics, culture, and even some anthropology. It’s only once a month and you might actually learn something!

Cheers!

-Publico, editor and founder of Public.SQ

“As a proportion of employment, underemployment rose in the United States from 1.9 percent of employment in the middle of 2007 to 5.3 percent in November 2010 and now stands at 4.3 percent. In the United Kingdom the number of part-time workers who say they want a full-time job as a proportion of total employment went from 2.3 percent in mid-2007 to 4.9 percent in the autumn of 2013 and currently stands at 4.4 percent and unchanged over the last three months, April–June 2014. These underemployed are also pushing down on wage growth.”
— ‘Wages Fall as the Mystery of the British and American Job Markets Gets Deeper Still' via Peterson Institute for International Economics

PSA for Followers of Public.SQ:

If you enjoy the blog, please subscribe to the monthly newsletter. It’s a narrative take on the events of the past thirty days that most major news outlets fail to provide their readers. Topics covered will include economics, politics, culture, and even some anthropology. It’s only once a month and you might actually learn something!

Cheers!

-Publico, editor and founder of Public.SQ

“As noted in the FOMC minutes from the March 18–19, 2014 meeting, a number of policymakers view the post-2007 decline in LFPR as largely reflecting demographic and structural factors. Our findings directly refute that hypothesis. Indeed, a demographically induced decline in LFPR would generally correspond to an adverse labor supply shock that would induce upward pressure on wages, whereas our results clearly demonstrate that a higher inactivity rate is linked to downward pressure on wages in the United States, and that effect is increasing as inactivity rises.”
— ‘Wages and Labor Market Slack: Making the Dual Mandate Operational' by David G. Blanchflower and Adam S. Posen
“What these writers understood quite consciously was that the story was an effective—perhaps the most effective—way to explain complex problems to a mass audience. Rather than being top-down communication, it was a means of democratizing information, a tool of empowerment.”
Dean Starkman, ‘What McClure Said’ via Columbia Journalism Review
“What about public service reporting? What about long-form, investigative narrative, which is expensive, time-consuming, risky, stressful, but is also the thing that exposes wrongdoing, clarifies public understanding, sets agendas, holds powerful institutions to account, and generates reform? What about that? Where does that fit into this new world? Never mind how to pay for it—that’s another question—but just, what about it? Isn’t that important, too? For some of us, it’s not just important. It’s the core, the key value around which healthy news cultures are built. It’s the point.”
— Dean Starkman, ‘What McClure Said’ via Columbia Journalism Review
“In general, transit use decreased as income increased, but respondents in the highest bracket—$150,000 and up—reported riding transit more than any other group except those in the lowest bracket, who make less than $25,000.”
'Millennials Love Transit Most, Boomers Still Stuck on Cars' via CityLab
“Transit riders are disproportionately young, members of ethnic minorities, and—most important of all—they live in relatively dense neighborhoods where high-quality transit is available. The most important factor for them in choosing transit is travel time and reliability, not fancier amenities such as wifi.”
— 'Millennials Love Transit Most, Boomers Still Stuck on Cars' via CityLab
“In this framework, house prices do not rise in superstar cities because there is increasing value from amenities or productivity benefits. Instead, the composition of families living in superstar cities shifts to those who are willing to pay more as high-income families become more numerous.”
— 'Superstar Cities' - Joseph Gyourko, Christopher Mayer, and Todd Sinai
“The result is a kind of cognitive capture: the problems and opinions of affluent Americans loom large for politicians because they spend so much of their time around affluent Americans.”
— Nick Carnes via Vox