Peter Morici

Latest News

192,000 Jobs Added in March but Wages Fall

The economy created 192,000 jobs in March, down from 197,000 in February and still well below the pace needed to lower underemployment to respectable levels. Those mediocre results are consistent with a broadly underperforming economy. Apr 4, 2014 6:21 AM PT

Friday's Jobs Report: What Do the Numbers Mean for the Economy?

Friday, the Labor Department is expected to report the economy added 206,000 jobs in March. While a significant improvement over January and February when harsh weather depressed hiring, this is still well below the pace needed to lower unemployment to an acceptable level. Apr 3, 2014 2:01 PM PT

NCAA Sports Labor Unions, Title IX, and the Bankrupting of Collegiate Athletics

Formally professionalizing collegiate athletics through an NLRB ruling recognizing the Northwestern football team's labor union will bankrupt all but the top athletic programs in the country. Why not separate those top programs into a professional league and allow all other schools to partake in truly amateur competition? Apr 1, 2014 6:17 AM PT

Five Things Janet Yellen and Federal Reserve Should Do

Last week, Janet Yellen sent stocks diving by saying the Federal Reserve could begin raising interest rates as early as next spring--most traders and forecasters have predicted a later date. Mar 24, 2014 8:12 AM PT

The Cold War Was Only on Vacation

Crimea is lost. The challenge now is to avoid a wider conflict with Russia, which is bent on absorbing more territory and further extending its influence into Eastern Europe. Mar 17, 2014 12:17 PM PT

175,000 Jobs Added in February, Economy Continues to Underperform

The economy created 175,000 jobs in February, up from 129,000 in January. Colder than normal weather was a factor, but that simply continued to underemployment of the nation’s human resources. Those mediocre results are consistent with a broadly underperforming economy. Mar 8, 2014 10:17 AM PT

Bush-Obama ‘Regulatory Reign of Terror’ Wreaks Havoc on Jobs

On Friday, the Labor Department is expected to report the economy added 150,000 jobs in February. This is less than half the pace needed to lower unemployment to an acceptable level, and President Obama’s budget promises little relief. Mar 5, 2014 9:11 AM PT

Tax Reform: Eliminate the Income Tax and IRS Altogether

Americans desperately want a fairer tax system and relief from arbitrary treatment by the IRS. True reform requires simply junking the personal and corporate income taxes in favor of a consumption tax. Feb 27, 2014 6:14 AM PT

More than Winter Chill Gripping Housing, Broader Economy

President Obama and many of the nation’s top economists entered 2014 predicting a breakout year for the economic recovery. However, troubles in the housing sector indicate more difficulties and several more years of mediocre growth lie ahead. Feb 25, 2014 10:51 AM PT

CBO Report Confirms Raising Minimum Wage to $8.25 Is Best Option

The recent Congressional Budget Office Report confirms raising the minimum wage in line with inflation to $8.25 is the best course. It would likely not create much additional unemployment, still put billions of dollars in the pockets of the working poor, and does less damage to the economy. Feb 19, 2014 7:33 AM PT

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