Overall, the year was a mixed bag on the job front. In January, state and local governments shed 19,000 jobs; in September, they added 22,000; and in November, they only added 2,000 jobs. Most of the hiring is happening in public safety and education; in fact, a majority of the November jobs are seasonal education employees. According to a September report by the Hamilton Project, an economic policy initiative at the Brookings Institute, the public sector (including the federal sector) needs to add 1.6 million jobs to reach pre-recession employment levels. But, excluding December, state and local governments added barely over 100,000 jobs in 2014.
In the News
Order by: Date, Title
Billionaire Peter Thiel, widely known as one of the founders of PayPal, is perhaps most strongly influenced by his experience as a professional chess player. In his book "Zero to One: Notes on Startups, or How To Build the Future," he outlines his theory on "last mover advantage."
Russia considers itself a global superpower, but it is looking small compared to the power of the global capital markets, Evercore Partners' Roger Altman told CNBC on Wednesday. What Russia's currency crisis has exposed is how profoundly weak the country has become, the investment bank's founder and executive chairman said on "Squawk Box." The commodity-centered economy now faces massive financial flight, a lack of meaningful foreign investment and highly leveraged corporations, Altman added.
Recent grads' major regrets have some basis. A paper by the Hamilton Project's Brad Hershbein and Melissa Kearney found substantial variation in median lifetime earnings by major. The median chemical engineering major earns $2.11 million over the course of her career, while the median early childhood education major makes $770,000 (which is distressing given what an important job that is).
Lawrence H. Summers, the former Treasury secretary, recently said that he no longer believed that automation would always create new jobs. “This isn’t some hypothetical future possibility,” he said. “This is something that’s emerging before us right now.”
Utah's rate of 248 gallons of water per person, like other Western states, is linked to high outdoor use of potable or drinking water, and the region's dry climate. An analysis by the Brookings Institution's Hamilton Project shows Utah second to Idaho at 167 gallons per capita in domestic water use.
Summers hits on two key points in this short interview. The first is that U.S. oil prices are down and should remain that way for at least the foreseeable future...
No question is more important for the living standards of billions of people or for the evolution of the global system than the question of how rapidly differently economies will grow over the next generation. We believe that conventional wisdom makes two important errors in assessing future growth prospects.
Recently, researchers from Hamilton Project reported that looking at cumulative earnings over the entire career, the typical bachelor's degree graduate worker earns $1.19 million, which is twice what the typical high school graduate earns, and $335,000 more than what the typical associate degree graduate earns.
“These concerns are normal. They’re also to some degree misguided.” — Eric Schmidt, Google chairman, on fears that machines will take over the world. He’s not into doom and gloom, he wants to talk loom: “Go back to the history of the loom,” he said. “There was absolute dislocation, but I think all of us are better off with more mechanized ways of getting clothes made.”
Search In the News
Hamilton Project Updates
A periodic newsletter of events, policy briefs, and working papers from The Hamilton Project.