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The labor force participation rate for married men has dropped, while the rate for married women has risen. Husbands may be working part time or even staying out of the workforce, while wives—who have become more educated—are more likely to work full time.
Strong job growth, consumer spending and housing activity bode well for the economy this year.
Market bubbles are linked to many historic financial crises, but asset price run-ups can reflect both fundamental value changes and psychological contagion. Using historic values of commonly held assets (stocks and real estate), a novel “exuberance index” offers a way to compare bubbles.
