Chan Economics LLC
Public Speaker, (PH. D Economics) (2019 to Present)
Chief Global Economist for JPMorgan Chase ('94-'19).
Senior Economist Barclays ('91-'94)
Economist, NY Federal Reserve ('89-'91)
Econ. Prof. (Univ. of Dayton, '86-'89)
Will the Early Ending of the Extra $300.00 UI Benefit Lower U.S. Unemployment Rates?
Despite the rise in Initial Unemployment Claims for the week ended on July 17, 2021, the downtrend from the start of the year remains encouraging. And from an economic perspective, it would be reasonable to assume that reducing the financial incentive to stay at home for lower-income workers would boost employment levels. For example, an individual earning a minimum wage of $7.25 or lower (as is the case in 20 U.S. States) might be motivated to stay at home if they received $250.00 in regular UI benefits plus $300.00 in enhanced benefits, i.e., $550.00 per week. By way of comparison, at a $7.25 wage rate, that same individual working 40 hours per week would earn just $290.00 per week while also incurring commuting and possibly childcare expenses.
Finding a Mysterious Package
While the U.S. appears to be recovering from the destruction of Covid-19, the threat to its economic recovery remains real. After cycling through a healthy dose of stimulus payments, data from the University of Chicago, and the University of Notre Dame, estimated the U.S. poverty rate jumped rose to 11.7% in March 2021 from a reading of 9.1% in May 2020.
Food for the Soul
“Chocolate cake is food for the soul,” was one of my mother’s favorite phrases as she baked up a storm while I was growing up. She especially loved to bake cakes with extra layers of chocolate. While it is difficult not to like something that nourishes your soul – it is also challenging to fathom how much my mother loved chocolate!
Our Mystical Barn
Moving from the Washington, DC metropolitan area to a smaller city in the Midwest to begin my teaching career was simultaneously an exciting and humbling experience. Once the relocation was complete, the most exciting challenge I encountered was convincing my colleagues that I was sincere and happy to be there. I was honored to be there since I chose to accept an Assistant Professor position with the University of Dayton because they offered the most attractive compensation package. Since teaching is not necessarily a financially rewarding profession, my goal was to seek the most attractive offer and earn enough to support my family while pursuing my passion.
How to Enjoy the Magical Wonders of a New World by Simply Falling Asleep?
The first thing my mom (who was the narrator of most of my bedtime stories) would say is “lie down in your magical bed and close your eyes while you slowly begin to breathe and clear your mind of all previous thoughts. As soon as your mind reaches a fully relaxed state, begin to think about which superpowers, you want to use tonight?”
How to Survive a Socially Awkward Moment and Thrive?
First, how do we measure the level of awkwardness that a person feels after an experience heads south faster than the trajectory of a rock rolling down Mount Everest?
The Creation of a Political Utopian Society
The 2024 U.S. presidential campaign topped the degree of polarization observed in the prior election. Many wondered how the country could be united after the election declared a winner since both the Democratic and Republican candidates vowed to contest the election results irrespective of whether the outcome was definitive or not. God help us was a popular slogan echoed by both candidates during their campaign rallies. And although an independent candidate also ran, most voters understood that this candidate was a spoiler that had little or no choice of capturing the White House.
How is the U.S. Economy Doing?
Ed Koch, one of New York City’s most colorful Mayors (1978 to 1989) loved to stand in street corners and ask anyone that passed by, “How am I doing?”