Job Market Monitor
Black market
Ontario / The underground economy is stealing jobs
Some of those jobs London so badly needs, with the highest big-city jobless rate in the country, can be found underground. No, not in the dirt but in the underground economy. Hidden from number counters, the taxman and competing with businesses that pay their taxes and might even hire more people if business were better, … Continue reading
Greece – Underground Economy Grows. Is there a link with the Euro crisis ?
Greece does not have the means to police its underground economy, which is considered very large compared to the size of the country. Austerity measures that cut the size of government will make enforcement of tax laws even more difficult. That is too bad because there is a lot of money to be had if only Greece could get cash … Continue reading
Is there a link between the size of the shadow economy and the Euro crisis ?
Just look at this figure to convince yourself. “Besides informal employment in the rural and non-rural sector also other measures of informal employment like the share of employees not covered by social security, own account workers or unpaid family workers are shown. The most influential factors on the shadow economy and/or shadow labor force are … Continue reading
Shadow economies | A declining trend over time with and a spike staring in 2007
Shadow economies – sometimes called the black market or informal economy – exist in every country. But how big are they? This column presents some new approaches to estimating their size and uses them to compare shadow economies across rich and poor countries over the last 60 years write Ceyhun Elgin and Oguz Oztunali on Vox. … Continue reading
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