Recently from NY Fed Research, a nuanced paper finds that while the *domestic* manufacturing industry has gotten more concentrated, rising imports have made up for the loss of product market competition (which is not helpful from a labor market standpoint): libertystreeteconomics.newyorkfed.org/2024/05/has-ma…

Nice bit of reporting and data visualization here from Politico showing how much of the IRA, CHIPS, ARP and the Infrastructure Law that has been deployed to date, and why some of it is taking longer than hoped: politico.com/interactives/2…

I learned a ton from Rebecca back in Houston and am truly psyched to team up again soon:

The housing pressure caused by liberalized immigration policies is such a case study of how you can't fix one thing in isolation -- carbon taxes won't work without developing alternatives, recruiting employers won't work without better education, etc. bloomberg.com/news/features/…

Our final cut on April jobs, which came in at a slower but still super-respectable pace, with a bonus record for prime-age female labor force participation: nytimes.com/2024/05/03/bus…

That feeling when the new contracts kick in

Good morning, hosting your jobs report here: nytimes.com/live/2024/05/0…

Interesting analysis from Bank of America shows that businesses in heat-exposed industries have lower net income during the summer than others, and over the past two years it's been negative. institute.bankofamerica.com/content/dam/ba…

Important Feds note: Inequality increases the likelihood of financial crises by increasing the savings stockpiled by rich households, who allocate those investments toward riskier assets. federalreserve.gov/econres/notes/…

Loved this piece by Lynsey Chutel Lauren Leatherby and John Eligon breaking down South Africa's progress -- and lack thereof -- by the goals laid out in its own Freedom Charter, now 30 years old. nytimes.com/interactive/20…

Half the time when someone says 'I love your work!' I'm pretty sure they haven't read any of it

This week in the NBERs: Powerful air pollution sensors are a critical tool in helping people avoid smoke exposure. Right now, they're concentrated in wealthier, whiter, cleaner areas. nber.org/papers/w32356