Justin Fox Profile picture
Sep 25, 2020 8 tweets 3 min read Read on X
I made a column with lots of charts (evergreen Tweet) bloomberg.com/opinion/articl…
This year has already broken the record for the number of corporate bankruptcies of $1 billion or more, according to NYU's Edward Altman. But by some other bankruptcy measures it's not a record-breaker at all Image
The overall number of business bankruptcies is (as of the second quarter, at least) near a 40-year low Image
Part of the long-run business bankruptcy decline has to do with changes in bankruptcy law, part with declining business dynamism (fewer startups, fewer failures). But something really interesting has been going on with the latter this year Image
A lot of this is people starting up side gigs, consulting businesses etc., which always happens in an economic downturn bloomberg.com/news/articles/…
But as @JHaltiwanger_UM has been pointing out on a near-weekly basis, there's also been a big uptick in likely-employer business applications, which is not something you'd expect in a downturn
It sure didn't happen in the last recession, for example Image
Oh, and look, now I can update that chart with another week of data (available here: census.gov/econ/bfs/index…). The contrast with the last recession has gotten even bigger Image

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More from @foxjust

Sep 9, 2022
Every under-60 age group *except* early 20s and late 30s now has higher labor-force participation and employment rates than in summer 2019 (short🧵on today's column) bloomberg.com/opinion/articl…
Here it is for employment-population ratio. I did a summer-to-summer comparison because (1) most age-group labor stats aren't available seasonally adjusted and (2) they can jump around a lot from month to month
That 20-24 decline is really big! Surely has something to do with interrupted and delayed education, but I hope it goes away soon. The 35-39 drop seems like it should be due to child-care issues, although it's men in that age group who are driving it bloomberg.com/opinion/articl…
Read 7 tweets
Aug 30, 2022
A few months ago, @alexschief pointed out that Minneapolis (population 425,336) was building more housing this year than San Jose, San Francisco, and Oakland combined (population 2.2 million). That's still true, and it's not the only one Image
These are all cities with less than 1 million people that are mostly building new apartments, not single-family houses. It's not an exhaustive list (Tampa, Miami, Arlington, TX, and others also meet the criteria)
Here are the top 10 jurisdictions for housing permits so far this year (permits are reported separately for each NYC borough but I combined them so sue me) Image
Read 5 tweets
Jun 15, 2022
The number of Americans with disabilities is up by about 2 million since before the pandemic. Wonder why that is? bloomberg.com/opinion/articl… Image
The disability increase is sharpest for those who have kept working bloomberg.com/opinion/articl… Image
Here's what the survey-takers ask to get at those disability estimates bloomberg.com/opinion/articl… Image
Read 6 tweets
Jan 18, 2022
Deaths from all causes among working-age Americans were astoundingly, awfully high last summer and fall bloomberg.com/opinion/articl…
The big increase in working-age mortality is mainly Covid-19 deaths ... bloomberg.com/opinion/articl…
Read 7 tweets
Aug 12, 2021
The East and West have been a lot hotter lately than they used to be, the Great Plains not so much bloomberg.com/opinion/articl…
Here's the map from a decade ago ... bloomberg.com/opinion/articl…
... which maybe helps explain why belief that climate change is happening fell in the U.S. in the early 2010s and has risen since bloomberg.com/opinion/articl…
Read 5 tweets
Aug 2, 2021
Last week's GDP release included revisions back to 1999, so it's time for a new set of presidential growth comparisons! Starting with the basic version: annualized growth in real GDP from 1st quarter in office to last bloomberg.com/opinion/articl…
Official quarterly GDP numbers start in 1947, but using annual numbers growth was -7.4% under Hoover, +9.1% FDR and +1.8% Truman. So yes, by this metric Trump has the worst growth record since Hoover bloomberg.com/opinion/articl…
Still, there are other legit ways to measure growth. One would be to shift the GDP measurement forward or back by a quarter. Do the former and Trump pulls ahead of George W. Bush bloomberg.com/opinion/articl…
Read 8 tweets

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