Omar J. Borla, Senior Economist

Friday August 5, 2011 will likely be remembered as “the NEW Black Friday” or “THE” Black Friday. On that day, after markets closed, Standard and Poor’s (S&P) fulfilled its previous warning and downgraded the sovereign credit rating of the USA to AA+ from the fifty-years-old AAA. On Monday the 8 th , the stock market took a tremendous dive in excess of 6% and all the pundits and talking heads blamed it on S&P’s downgrade. Clearly, the downgrade came in handy to justify the selloff of Monday,...

Liberty Foundation of Oklahoma ( http://libertyfound.org/ ) today released data on the labor force participation rates from 1999 through 2013 for all states. The trends in Delaware are disturbing (click on the link below for the depressing statistics). The participation in the labor force by Delaware residents has been on a long downward spiral. Using the last 10 years of complete data (2002-12) Delawares total labor force participation rate has fallen 5.8%. Reflecting the effects of...