NAFTA trade deficit chart

US trade deficits with Canada and Mexico since NAFTA

Eric Garland DataLab

As the United States has suddenly pulled out of the Trans-Pacific Partnership, it is a good time to review the last, important trade deal of similar scale, NAFTA. As this chart shows, trade deficit with Mexico and Canada increased from USD$17.0 to $177.2 billion. According to this paper by Robert E. Scott, NAFTA has indirectly displaced upwards of one million jobs …

minimum wage Seattle unemployment

Minimum wage increase in Seattle correlates with low unemployment

Eric Garland DataLab

Barry Ritholz of Ritholz Wealth Management has been an ardent supported of minimum wage increase as a factor in economic growth. With this latest report on Seattle’s record low unemployment, he’s spiking the football on decoupling the increase in wages with job loss. We may have in Seattle the skunkworks for future minimum wage increases as a catalyst in job …

US Natural Gas Export energy trend

Natural gas exports from the United States set to grow in 2017

Eric Garland DataLab

The United States, in the age of weak demand growth and junk bond steroids, has become an exporter of liquid fossil fuels. Looking at this trend of 2006-2017 US natural gas exports, we can see that this trend is forecast to grow. For more, we turn to expert energy futurist Gregor Macdonald, editor of energy foresight publication TerraJoule: US exports of natural …

Public sector government jobs Obama

Public sector payroll jobs under Obama

Eric Garland DataLab

Further to our data sets looking at U.S. macroeconomic performance in the past two presidential administrations, here is a chart showing public (not private) sector payroll jobs under several presidential administrations. What is so striking is the fact that only Obama has reduced the number of payroll jobs at the Federal government, with Reagan, Clinton, and Bush 43 expanding the …