Region: United States
Report
"This analysis surveys the economic landscape emerging from the Great Recession and compares it to previous recovery periods. It identifies differences in the strength and geography of county-level growth in employment and business establishments — two key markers of economic dynamism — and uncovers three significant transformations in the economy. The first and most unambiguously troubling is a collapse in the number of new firms in the economy. The second is the increasing geographic concentration of recovery-era businesses and jobs into a smaller number of more populous counties. The third is the shift in the counties driving the nation’s economic recoveries from smaller to larger ones. Together, the findings capture an economy veering towards a less broadly dynamic, less entrepreneurial, and more geographically concentrated equilibrium — more reliant than ever on a few high-performing geographies abundant in talent and capital to carry national rates of growth."
Report
The report, based on the Board's third annual Survey of Household Economics and Decisionmaking, presents a contrasting picture of the financial well-being of U.S. families. Aggregate-level results show several signs of improvement. Sixty-nine percent of respondents said they are either "living comfortably" or "doing okay," up 4 percentage points from 2014 and up 6 percentage points from 2013. Seventy-seven percent of non-retired adults without a disability are confident that they have the skills necessary to get the kind of job that they want now--an increase of 10 percentage points from the 2013 survey results.
Report
Why aren’t teacher salaries rising? . . . It’s not for lack of money. Even after adjusting for inflation and rising student enrollment, total school spending is up by about 29 percent over the last 20 years. . . This puzzle can be explained by three trends eating into teachers’ takehome pay: rising health care costs, declining student/teacher ratios, and rising retirement costs. . . Today, states are paying an average of 12 percent of each teacher’s salary just for debt costs.
Report
The share of young men who are jobless or incar- cerated has been rising. In 1980, 11 percent of young men were jobless or incarcerated; in 2014, 16 percent were (see the figure on page 3). Specifi- cally, 10 percent of young men were jobless in 1980, and 1 percent were incarcerated; those shares rose to 13 percent and 3 percent in 2014. . . Young men who are jobless or incarcerated can be expected to have lower lifetime earnings and less stable family lives, on average, than their counterparts who are employed or in school. In the short term, their lower earnings will reduce tax revenues and increase spending on income support programs, and the incarceration of those in federal prison imposes costs on the federal government. Farther in the future, they will probably earn less than they would have if they had gained more work experi- ence or education when young, resulting in a smaller economy and lower tax revenues.
Report
The Failure to Act report series answers this key question — how does the nation’s failure to act to improve the condition of U.S. infrastructure systems affect the nation’s economic performance? In 2011 and 2012, ASCE released four Failure to Act reports in a series covering 10 infrastructure sectors that are critical to the economic prosperity of the U.S.
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