Mike Walden

Editor’s note: Dr. Mike Walden is a William Neal Reynolds Distinguished Professor and Extension Economist in the Department of Agricultural and Resource Economics at North Carolina State University who teaches and writes on personal finance, economic outlook, and public policy. RALEIGH – Mark Zuckerberg, the billionaire founder of Facebook, recently caused a stir by throwing his support behind the idea of a guaranteed basic income. Just speaking to my neighbors, colleagues at work and friends at the gym, I’ve noticed that he certainly has set off some passionate conversation about the merits – or demerits – of the idea....

Editor’s note: Dr. Mike Walden is a William Neal Reynolds Distinguished Professor and Extension Economist in the Department of Agricultural and Resource Economics at North Carolina State University who teaches and writes on personal finance, economic outlook and public policy. RALEIGH – My wife is a great cook, and she makes fabulous varieties of soups. My favorite is her lentil soup. It’s both tasty and healthy! Sometimes my wife and I disagree over the temperature of the soup. Remember the Goldilocks saying about the soup not being too hot or too cold, but instead being just right? Well, my...

Editor’s note: Dr. Mike Walden is a William Neal Reynolds Distinguished Professor and Extension Economist in the Department of Agricultural and Resource Economics at North Carolina State University who teaches and writes on personal finance, economic outlook, and public policy.  RALEIGH, N.C. – The Federal Reserve – for short, the “Fed” – is again front and center in the news. With the economy improving and the stock market soaring, the Fed is expected to increase short-term interest rates several times in 2017. Yet the Fed and its policies have not been held in high regard by many. Some say...

Editor’s note: Dr. Michael Walden is William Neal Reynolds professor of agricultural and resource economics at NC State University. RALEIGH, N.C. – Politicians of all parties and persuasions have one thing in common on the campaign trail: They are talking about economic growth. Actually, they’re talking about the lack of robust economic growth and solutions for making the economy stronger. It’s not that the economy isn’t improving; it is. In fact, the economy has been expanding for seven years. This is the third-longest economic growth period since World War II. Of course, when I say the economy is improving,...

The North Carolina State Index, a forecast of the economy’s direction four to six months ahead, declined by a modest 0.4% in August, continuing a downward trend that began in mid-2014. However, the reduction in the Index should be characterized as an “easing” rather than a “tumble”, suggesting no near term threat of an recession. Interestingly, while the national index, jobless claims, and building permits all worsened during the month, both manufacturing indicators (hours and earnings) increased, perhaps meaning the adverse impact of the stronger dollar has been absorbed. So, economic growth in the state should continue, but the...

The NCSU Index of North Carolina Leading Economic Indicators (the “Index”), a forecast of the economy’s direction four to six months ahead, continued to signal accelerated future growth in North Carolina. The Index’s value in November was 0.6% higher than in October and 8.1% above its year-ago level. All components of the Index improved with the exception of building permits, which is the most volatile of the measures. Strong gains were registered in the two manufacturing measures, suggesting this key sector will be moving to a higher level in 2014. Recent increases in the Index are signaling a noticeably...

How do we know what’s happening to our state’s economy? Certainly we can rely on our personal experiences, but there’s no assurance that what’s happening in our own economic life is representative of the entire state. This is why we rely on economic statistics to give us an idea of what’s occurring. But there are lots of economic numbers and measures. What do they mean, and what are they saying about our state’s economy today? Let me try to give you a road map, and then let you decide. The gold standard for measurement of the economy is gross...

North Carolina’s economy was slammed by the Great Recession, with statewide unemployment passing 11 percent and more than 300,000 jobs being lost between 2007 and 2010. In the last three years the state’s economy has rebounded – 200,000 jobs have been added and aggregate production of goods and services is now back to pre-recessionary levels. Still, the statewide jobless rate in mid-2013 was 8.8percent, 1.2 percentage points higher than the national rate. But while we can talk about a statewide economy, traditionally North Carolina has been comprised of many regional economies. In particular, the economies of the large urban...