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Browsing PERC Publications by Issue Date, starting with "2024"
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Item Economic Indicators of the College Station-Bryan MSA, January 2024(Private Enterprise Research Center, Texas A&M University, 2024-01-18) Bullock, Ashley; Jansen, Dennis W.; Sinha, Somali GhoshThe Business-Cycle Index increased by 0.5% from 227 in October to 228 in November 2023. The local unemployment rate decreased to 3.2% in November compared to 3.3% in October. Local nonfarm employment in November increased by 0.05% from October's level. November's inflation-adjusted taxable sales were down by 0.5% from October. For 2022, the new and revised inflation-adjusted Gross Domestic Product (GDP) for College Station-Bryan grew by 16.4% from 2017, where Texas grew 15.3%, and 11.2% for the U.S. over the same period.Item Economic Indicators of the College Station-Bryan MSA, February 2024(Private Enterprise Research Center, Texas A&M University, 2024-02-15) Bullock, Ashley; Jansen, Dennis W.; Ghosh Sinha, SomaliThe Business-Cycle Index increased from 226 in May 2023 to 228 in June 2023. The local unemployment rate decreased from 3.4% in May 2023 to 3.3% in June 2023. Local nonfarm employment increased by 0.3% from May to June. June’s inflation-adjusted taxable sales were down by 1.2% from May. By using a modified poverty measure that adjusts for college students, the poverty rate in Brazos County drops from 25% to 18%.Item Economic Indicators of the College Station-Bryan MSA, March 2024 (Private Enterprise Research Center, Texas A&M University, 2024-03-20) Bullock, Ashley; Jansen, Dennis; Ghosh Sinha, SomaliThe Business-Cycle Index increased 0.2% from December 2023 to January 2024. The local unemployment rate for January 2024 was 3.1% in January 2024, unchanged from December 2023. In the March data release, January’s local nonfarm employment decreased by 0.3% from December 2023. Inflation-adjusted taxable sales were up by almost 1% from December 2023 to January 2024. Inflation-adjusted quarterly wages were down by 1.6% in the third quarter of 2023 compared to the previous quarter.Item Economic Indicators of the College Station-Bryan MSA, April 2024 (2024-04-17) Bullock, Ashley; Dennis, Jansen, W.; Ghosh Sinha, SomaliThe Business-Cycle Index increased 0.2% from January to February 2024. The local unemployment rate for February 2024 was 3.1%, unchanged from the previous month. February’s local nonfarm employment increased by 0.2% from January 2024. Inflation-adjusted taxable sales were down by almost 1% from January 2024 to February 2024. Inflation-adjusted quarterly wage payments were down by 1.6% in the third quarter of 2023 compared to the previous quarter. College Station - Bryan ranks ninthth-lowest in overall Regional Price Parity and in Regional Housing Price Parity among eleven selected college towns.Item Economic Indicators of the College Station-Bryan MSA, April 2024(Private Enterprise Research Center, Texas A&M University, 2024-04-17) Bullock, Ashley; Jansen, Dennis W.; Sinha, Somali GhoshThe Business-Cycle Index increased 0.2% from January to February 2024. The local unemployment rate for February 2024 was 3.1%, unchanged from the previous month. February’s local nonfarm employment increased by 0.2% from January 2024. Inflation-adjusted taxable sales were down by almost 1% from January 2024 to February 2024. Inflation-adjusted quarterly wage payments were down by 1.6% in the third quarter of 2023 compared to the previous quarter. College Station - Bryan ranks ninthth-lowest in overall Regional Price Parity and in Regional Housing Price Parity among eleven selected college towns.Item Economic Indicators of the College Station-Bryan MSA, May 2024(Private Enterprise Research Center, Texas A&M University, 2024-05-14) Bullock, Ashley; Jansen, Dennis W.; Sinha, Somali GhoshThe Business-Cycle Index increased 0.3% from February 2024 to March 2024. The local unemployment rate for March 2024 was 3.1%, unchanged from February 2024. March’s local nonfarm employment was essentially the same as in February 2024, and was up 0.8% from March 2023.Inflation-adjusted taxable sales were up by almost 1.2% from February 2024 to March 2024. Inflation-adjusted quarterly total wage payments were down by 1.6% in the third quarter of 2023 compared to the previous quarter. The median sales price for single family homes in Brazos County increased 8% from the previous year.Item Interview with Maya Mikdash; Does (All) Police Violence Cause De-Policing?(Private Enterprise Research Center, Texas A&M University, 2024-06-19) Ashley BullockThe death of George Floyd spurred nationwide protests and the media storm that ensued placed police accountability and reform front-and-center in the American news cycle. In this issue of PERCspectives on Research, PERC's M.J. Grove Scholar Maya Mikdash is interviewed and her paper on the causes behind increases in criminal activity following incidents of police violence is discussed.Item Texas: The Exporting Powerhouse(Private Enterprise Research Center, Texas A&M University, 2024-06-20) Jansen, Dennis W.; Sinha, Somali GhoshAt $445 billion worth of goods and services, Texas was the largest exporter of all the U.S. states in 2023. Exports also made up 23% of Texas GDP the same year. This issue of PERCspectives on Policy compares the dollar value of exports for the top U.S. states, and takes a more comprehensive look at Texas' largest exporting industries.Item Economic Indicators of the College Station-Bryan MSA, June 2024(Private Enterprise Research Center, Texas A&M University, 2024-06-21) Bullock, Ashley; Jansen, Dennis W.; Sinha, Somali GhoshThe Business-Cycle Index increased 0.3% from March 2024 to April 2024. The local unemployment rate for April 2024 was unchanged from March's value of 3.1%. Local nonfarm employment increased by 0.8% from March to April 2024. Inflation-adjusted taxable sales decreased by 3.6% from March 2024 to April 2024. Inflation-adjusted quarterly wage payments increased by 2.8% in the fourth quarter of 2023 compared to the previous quarter. Employment in the College Station-Bryan MSA was 12.6% higher by April 2024 than it was before the pandemic occurred.Item Economic Indicators of the College Station-Bryan MSA, July 2024(Private Enterprise Research Center, Texas A&M University, 2024-07-17) Bullock, Ashley; Jansen, Dennis W.; Sinha, Somali GhoshThe Business-Cycle Index increased 0.3% from April 2024 to May 2024. The local unemployment rate for May 2024 was unchanged from the April value of 3.1%. Local nonfarm employment increased by 0.2% from April to May 2024. Inflation-adjusted taxable sales decreased by 3.2% from April 2024 to May 2024. Inflation-adjusted quarterly wage payments increased by 2.8% in the fourth quarter of 2023 compared to the previous quarter. Texas A&M had the highest total enrollment and engineering enrollment among selected MSAs that house large universities.Item Economic Indicators of the College Station-Bryan MSA, August 2024(Private Enterprise Research Center, Texas A&M University, 2024-08-15) Bullock, Ashley; Jansen, Dennis W.; Sinha, Somali GhoshThe Business-Cycle Index increased 0.08% from May 2024 to June 2024. The local unemployment rate for June 2024 was 3.2%, up from 3.1% in May. Local nonfarm employment increased by 0.5% from May to June 2024. Inflation-adjusted taxable sales increased by 1.9% from May 2024 to June 2024. Average real (inflation-adjusted) hourly earnings in College Station-Bryan in June 2024 were 8.2% lower than in February 2020. Nationwide, average real hourly earnings were 0.6% higher over this same period.Item Federal Liabilities: 2024 Update(Private Enterprise Research Center, Texas A&M University, 2024-09-10) Jansen, Dennis W.; Rettenmaier, Andrew; Uddin, ThaminaThe 2023 Financial Report of the United States Government identifies total federal liabilities of $42.9 trillion as of September 30, 2023, marking a 10% increase from 2022. The federal debt and interest payable of $26.4 trillion comprised 62% of these liabilities. Federal employees’ accrued benefits make up another 33%, and various other categories round out the remainder. However, current official liabilities exclude current retirees’ expected Social Security and Medicare benefits – an additional $36.5 trillion in liabilities. Together, the official liabilities plus current retirees’ accrued Social Security and Medicare benefits total $79.4 trillion, or 290.4% of GDP in 2023. This highlights the substantial fiscal challenge, as the total liabilities are nearly three times the size of the publicly held debt’s share of GDP.Item Federal Liabilities: 2024 Update(Private Enterprise Research Center, Texas A&M University, 2024-09-10) Jansen, Dennis W.; Rettenmaier, Andrew; Uddin, ThaminaThe 2023 Financial Report of the United States Government identifies total federal liabilities of $42.9 trillion as of September 30, 2023, marking a 10% increase from 2022. The federal debt and interest payable of $26.4 trillion comprised 62% of these liabilities. Federal employees’ accrued benefits make up another 33%, and various other categories round out the remainder. However, current official liabilities exclude current retirees’ expected Social Security and Medicare benefits – an additional $36.5 trillion in liabilities. Together, the official liabilities plus current retirees’ accrued Social Security and Medicare benefits total $79.4 trillion, or 290.4% of GDP in 2023. This highlights the substantial fiscal challenge, as the total liabilities are nearly three times the size of the publicly held debt’s share of GDP.Item U.S. Budget Woes(Private Enterprise Research Center, Texas A&M University, 2024-09-10) Jansen, Dennis W.; Sinha, Somali GhoshThe Congressional Budget Office's latest economic and budget projections from 'An Update to the Budget and Economic Outlook: 2024 to 2034' are worrisome, to say the least. The CBO projects large and persistent federal government deficits through 2034, and with no end in sight. In the Fall 2024 issue of PERCspectives on Policy, Dennis Jansen and Somali Ghosh Sinha take a historical look at the debt held by the public as a percent of GDP from pre-World War II onwards, analyze how increased government spending during the Covid-19 pandemic differed from war-era deficits, and discuss the causes behind ever-increasing government outlays.Item U.S. Budget Woes(Private Enterprise Research Center, Texas A&M University, 2024-09-10) Jansen, Dennis W.; Sinha, Somali GhoshThe Congressional Budget Office's latest economic and budget projections from "An Update to the Budget and Economic Outlook: 2024 to 2034" are worrisome, to say the least. The CBO projects large and persistent federal government deficits through 2034, and with no end in sight. In the Fall 2024 issue of PERCspectives on Policy, Dennis Jansen and Somali Ghosh Sinha take a historical look at the debt held by the public as a percent of GDP from pre-World War II onwards, analyze how increased government spending during the Covid-19 pandemic differed from war-era deficits, and discuss the causes behind ever-increasing government outlays.Item Federal Liabilities: 2024 Update(Private Enterprise Research Center, Texas A&M University, 2024-09-10) Jansen, Dennis W.; Rettenmaier, Andrew; Uddin, ThaminaThe 2023 Financial Report of the United States Government identifies total federal liabilities of $42.9 trillion as of September 30, 2023, marking a 10% increase from 2022. The federal debt and interest payable of $26.4 trillion comprised 62% of these liabilities. Federal employees’ accrued benefits make up another 33%, and various other categories round out the remainder. However, current official liabilities exclude current retirees’ expected Social Security and Medicare benefits – an additional $36.5 trillion in liabilities. Together, the official liabilities plus current retirees’ accrued Social Security and Medicare benefits total $79.4 trillion, or 290.4% of GDP in 2023. This highlights the substantial fiscal challenge, as the total liabilities are nearly three times the size of the publicly held debt’s share of GDP.Item U.S. Budget Woes(Private Enterprise Research Center, Texas A&M University, 2024-09-10) Jansen, Dennis W.; Sinha, Somali GhoshThe Congressional Budget Office’s latest economic and budget projections from “An Update to the Budget and Economic Outlook: 2024 to 2034” are worrisome, to say the least. The CBO projects large and persistent federal government deficits through 2034, and with no end in sight. In the Fall 2024 issue of PERCspectives on Policy, Dennis Jansen and Somali Ghosh Sinha take a historical look at the debt held by the public as a percent of GDP from pre-World War II onwards, analyze how increased government spending during the Covid-19 pandemic differed from war-era deficits, and discuss the causes behind ever-increasing government outlays.Item Economic Indicators of the College Station-Bryan MSA, September 2024(Private Enterprise Research Center, Texas A&M University, 2024-09-19) Bullock, Ashley; Jansen, Dennis W.; Sinha, Somali GhoshThe Business-Cycle Index increased 0.5% from June 2024 to July 2024. The local unemployment rate remained steady at 3.2% in July 2024 compared to June 2024. Local nonfarm employment increased by 0.5% from June 2024 to July 2024. Inflation-adjusted taxable sales decreased by 0.3% from June 2024 to July 2024. Inflation-adjusted quarterly wages increased by 3.1% from the previous quarter. Poverty rates for college towns are overstated. Our Modified Poverty Measure for College Station Bryan, which excludes college students, was 12.3%, compared to the Official Poverty Measure of 21.6%.Item Economic Indicators of the College Station-Bryan MSA, October 2024(Private Enterprise Research Center, Texas A&M University, 2024-10-16) Bullock, Ashley; Jansen, Dennis W.; Sinha, Somali GhoshThe Business-Cycle Index increased 0.3% from July 2024 to August 2024. The local unemployment rate remained steady at 3.2% in August 2024 compared to July 2024. Local nonfarm employment increased by 0.1% from July 2024 to August 2024. Inflation-adjusted taxable sales decreased by 0.9% from July 2024 to August 2024. Texas A&M University 2024 Fall enrollment was 2.3% higher than in Fall 2023.Item Economic Indicators of the College Station - Bryan MSA, November 2024(Private Enterprise Research Center, Texas A&M University, 2024-11-21) Bullock, Ashley; Jansen, Dennis W.; Sinha, Somali GhoshThe Business-Cycle Index increased 0.2% from August 2024 to September 2024. The local unemployment rate remained steady at 3.2% in September 2024 compared to August 2024. Local nonfarm employment decreased by 0.1% from August 2024 to September 2024. Inflation-adjusted taxable sales decreased by 2% from August 2024 to September 2024. Cumulative inflation-adjusted Texas state tax revenues for fiscal year 2024 surpassed fiscal year 2019 by 12.6%. Tax revenues were actually 3.4% lower in fiscal year 2024 compared with fiscal year 2023.