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9 views
Wage growth deceleration continues, per ADP Research. Bad news for workers but should make Fed happy.
Deceleration for job stayers and changers. For Leisure & Hospitality but most everything else less so.
7 views
Real wages have grown in every region of the country this year: from 4.0% in New England down to 0.9% in the East South Central division.
This shows median wage growth rates within worker for each Census division less division's consumer price index growth rate.
https://www.atlantafed.org/chcs/wage-growth-tracker?panel=1
https://www.bls.gov/cpi/regional-resources.htm
2 views
Bank did a big cut to its check-cashing fee structure in Mar 2012.
Before, it matched competing check cashier’s prices = state cap of 1.86% of face value (dotted line).
After, fee = $1 for checks under $1,000 face value and 1% on higher value checks (solid).
Variation galore.
1 views
New unemployment insurance claims tick up to 248K from low 236K in prior week with seasonal adjustment.
Insured unemployment ticks down slightly from 1.73 million to 1.72 million.
So pretty stable.
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🔥 Top post: https://www.cbsnews.com/news/north-dakota-college-minnesotas-fre · 10 likes + reposts
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Real wages have grown in every region of the country this year: from 4.0% in New England down to 0.9% in the East South Central division.
This shows median wage growth rates within worker for each Census division less division's consumer …
Wage growth deceleration continues, per ADP Research. Bad news for workers but should make Fed happy.
Deceleration for job stayers and changers. For Leisure & Hospitality but most everything else less so.
New unemployment insurance claims tick up to 248K from low 236K in prior week with seasonal adjustment.
Insured unemployment ticks down slightly from 1.73 million to 1.72 million.
So pretty stable.
Photo post
My new blog at RAPID Survey: "In the United States, we invest very little in early childhood, at a time when such investments could relieve parents of hardships, increase emotional well-being for parents and young children, and result in …
Full open article here:
https://direct.mit.edu/rest/article-abstract/doi/10.1162/rest_a_01308/115258/The-Need-for-Speed-Demand-Regulation-and-Welfare?redirectedFrom=fulltext
Full open article here:
https://direct.mit.edu/rest/article-abstract/doi/10.1162/rest_a_01308/115258/The-Need-for-Speed-Demand-Regulation-and-Welfare?redirectedFrom=fulltext
Crazy but interesting to extrapolate nationally.
Maximum hold time of one day would generate $312 in consumer surplus per underbanked household each year, or $10.6 billion in total.
An instant payment system, like the Fed’s free-to-consum…
Estimates => bank’s average customer is willing to pay equivalent of $11.17 per day to speed up access to their $ = effective annualized discount rate of 11,054% for the average check (tho bank charged much less).
Lower-income customers ha…
Before the fee cut, 7.1% of customers with accounts who would face a 1-day wait chose check cashing and 10.7% facing 2-day wait did.
After cut, 12.6% of customers facing 1-day wait chose CC.
Lots of robustness checks abt holidays and weeke…
Bank did a big cut to its check-cashing fee structure in Mar 2012.
Before, it matched competing check cashier’s prices = state cap of 1.86% of face value (dotted line).
After, fee = $1 for checks under $1,000 face value and 1% on higher va…
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