Global Macro Monitor 121 posts 0 comments

Though Vice Chairman, Janet Yellen, threw the bugs some QE red meat, Chairman Bernanke disappointed. We were expecting more positive QE speak from Mr. Bernanke, but not surprised by the sell-off.

Note the peak in manufacturing jobs in June 1977, which represented 22 percent of all nonfarm payrolls, then, to fall to less than 9 percent of total employment today. It’s too earlier to claim victory with the current recovery in the…

Today we look at the jobs recovery by various industries.

"The chart also shows that the current economic situation is much weaker in several euro-area periphery countries. The recession in Greece has yet to end, and real GDP is now more than 17 percent below its prior peak. While a recovery…

Take a look at the long-term charts of crude oil and natural gas. The historical oil-to-gas price ratio had ranged from 6:1 to 10:1 before the economic crisis. Since one barrel of oil contains the energy equivalent of the 5.825 million…

The Institute for Supply Management (ISM), the US purchasing managers’ index (PMI) for March increased to 53.4 from 52.4 in February, beating expectations of 53. It’s the 32nd consecutive month that the index has been at least 50.

Shiller says the shift toward renting and city living could mean “that we will never in our lifetime see a rebound in these prices in the suburbs." Watch the video.

The Consumer Price Index for All Urban Consumers (CPI-U) in the U.S. increased 2.9 percent in February before seasonal adjustment. These BLS charts and table illustrate what is driving the increase.

Here’s a cool graphic from the EIA on what drives the price of a gallon of gasoline in January 2012. We paid $4.20 last night in California!

Great chart from the recently released Economic Report of the President. We suspect the Great Depression housing bust didn’t have the government props to soften the blow as we do today, which, therefore, on a relative basis, makes the…