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Scoop.it!
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Employers in the US added 253,000 jobs in April as the labour market held up better than expected. 
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Scoop.it!
In the past two decades inflation has puzzled economists by remaining low in good times and bad. Could the pandemic cause it to rise?
Graham Watson's insight:
The Economist looks at the nature of inflation - starting from the premise that recent low inflation is difficult to explain in traditional theoretical terms. .
This starts simply - with a definition of inflation - and then develops to look at why inflation is so problematic and then moves on to consider the possibility that Covid might see the return of inflation., although currently that doesn't seem likely.
It's an engaging mix of economic history, economic theory and current economic thinking.
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The US economy remains in decent health looking at the latest unemployment data. It has returned to a multi-decade low of 3.4% and another 253,000 jobs were created last month, despite rising interest rates.
I'm interested to see what this implies for macroeconomic modelling - have developed economies changed? Certainly it seems as though the Phillips Curve has shifted leftwards.