Economy

What Harvard’s Raj Chetty overlooks about upward mobility

The Harvard economist Raj Chetty, justly famous for his studies of the factors that enable upward mobility in America, is back with a new analysis that has attracted wide attention. Thanks to access to the individual tax records of a million former public housing residents whom his Opportunity Insights team tracked, he determined that a move from “the projects” to a new, mixed-income community led to long-term economic gains for children.

America’s affordability crisis is a housing shortage

Family formation has cratered in the last fifteen years in the United States, with the fertility rate hitting a record low of just 1.6 babies per woman. One big reason young people are hesitant to get married and have a family is that soaring housing costs have made having and raising children much more expensive. In fact, one new study finds that “51% of the total fertility rate decline between the 2000s and 2010s” can be attributed to the increased cost of housing.

January jobs report shows Trump economy stronger than advertised

The Bureau of Labor Statistics January jobs report blew out consensus expectations, reporting a net 130,000 jobs were created last month, more than double the 55,000 predicted by most “experts.” Unemployment also edged down to 4.3% and wages grew 3.7%, outpacing inflation. While the top-line monthly numbers were impressive, the even more pleasing real story can be found in the report’s annual benchmark numbers, which show that in President Donald Trump’s economy, people are winning and government bureaucrats are losing.

Is the Trump economic boom here?

Wednesday’s stronger-than-expected jobs report could be a sign of the economic renaissance President Donald Trump promised, possibly in time to save Republican congressional majorities in November.

How much does 1 gram of gold cost right now?

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How to get a mortgage interest rate close to 5% this February

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