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School of Business

St. Louis Job Market Shows Strength

By Timothy S. Sullivan, Ph.D.

October 12, 2017

The US Bureau of Labor Statistics (BLS) released August's metropolitan area unemployment rates last week, and there's good news for the St. Louis region. The St. Louis Metropolitan area saw its unemployment rate drop a full percentage point -- from 5.1% in August 2016 to 4.1% in August 2017. St. Louis's improvement is tied for #66 among the 388 metropolitan areas for which BLS gathers data. Among the 51 metropolitan areas with populations of 1 million or more, the St. Louis area's August 2017 un...

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Nobel Prize in Economics

By Timothy S. Sullivan, Ph.D.

October 10, 2017

I remember very well in 1986 when James M. Buchanan won the Nobel Prize in Economics. I was in college -- majoring in economics -- and a friend asked me about Buchanan's research. I summarized it by saying that "when politicians make decisions about economic policies, they worry about being re-elected." When my friend asked about previous winners, I noted that the 1985 winner, Franco Modigliani had formulated the life-cycle hypothesis, which explains why people would save money during their work...

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