Job Market Monitor
Economics
Listen to John Maynard Keynes’ voice on High Unemployment
When someone questions the effectiveness of Keynesian economics, the obvious reply is: Remember World War II? The British economist John Maynard Keynes argued that there is a role for government intervention when aggregate demand for goods and services drops, as it did during the Great Depression. Without increased public spending to make up for decreased … Continue reading
US – How far would you travel to find work?
Joe Mako has used Tableau to plot unemployment relative to the national average for every US state between 1976 and 2012. The aptly named horizon chart represents values using both colour and dimensions. In this case orange and red shading indicate an unemployment rate above the national average, while shades of blue show the inverse. … Continue reading
Raising the minimum wage would be good for our economy
A higher minimum wage not only boosts workers’ incomes—something that is sorely needed to boost demand and get the economy going—but it also reduces turnover and shifts businesses toward a high-road, high-human-capital model. Still, some policymakers may be nervous about increasing the minimum wage while unemployment is so high. Yet, both the federal and states … Continue reading
In The News | Veterans , Inequalities, Youth, China Middle Class, Layoffs, EI Changes, Grads and More
More Companies Hiring Veterans | fox4kc.com – Kansas City news & weather from WDAF TV – FOX 4 fox4kc.com – NEAR PHILADELPHIA, Pa. — A company in Pennsylvania is on a mission to hire Veterans. A construction equipment company called Modern Group wants to hire men and women who have served in the U.S. ar… Inequality … Continue reading
UK cities | An international comparison of unemployment
Unemployment has fallen for the second consecutive month to March. Yet the outlook remains fragile as part-time work and self employment increase in the absence of full-time job creation. The picture across UK cities continues to look very different. To highlight just how different we’ve compared ILO unemployment rates by city to countries around the … Continue reading
Krugman on Euro | Apocalypse Fairly Soon
Suddenly, it has become easy to see how the euro — that grand, flawed experiment in monetary union without political union — could come apart at the seams. We’re not talking about a distant prospect, either. Things could fall apart with stunning speed, in a matter of months, not years. And the costs — both … Continue reading
Canada | The Issue is Unemployment Not Labour Shortages
The federal government is basing labour market policy on the belief that, as Jason Kenney pithily puts it in today’s Globe, there are “large and growing labour shortages.” Hence moves to bring in even more temporary foreign workers at lower than average wages, and to push EI claimants into supposedly available jobs. Not that the … Continue reading
Greeks are pulling euros out | ECB stops providing liquidity to some Greek banks | Reuters
The European Central Bank has stopped providing liquidity to some Greek banks as they have not been successfully recapitalized, the ECB said on Wednesday, confirming news earlier reported exclusively by Reuters. The news sent the euro lower against the dollar, fanning concerns among investors and in Greece that the country may have to leave the … Continue reading
Youth unemployment around the world
Youth unemployment across the OECD: how does the UK compare? | News | guardian.co.uk.
U.S. | Nearly $1 Trillion a year fighting poverty and over the next 10 years, governments will spend $250,000 for every poor American
On January 8, 1964, President Lyndon B. Johnson delivered a State of the Union address to Congress in which he declared an “unconditional war on poverty in America.” At the time, the poverty rate in America was around 19 percent and falling rapidly. This year, it is reported that the poverty rate is expected to … Continue reading
U.S. tariffs on Chinese solar cells could lead to job losses
The Obama administration’s recent decision to slap import tariffs on Chinese solar cells was hailed by some domestic solar manufacturers as a victory for job creation, leveling the field while sending a powerful message to Beijing about monopolistic behavior in crucial industries. But a close look at the U.S. solar industry suggests that the tariffs … Continue reading
Harmonised Unemployment Rates stable at 8.2% in March for OECD
The OECD area unemployment rate was stable at 8.2% in March 2012, the same level recorded since February 2011. This flatness is largely the result of increasing rates in some euro area countries being offset by declines in North America. The euro area unemployment rate rose by 0.1 percentage point to 10.9% in March, 3.6 … Continue reading
Structural Unemeployment | In the long run we are all dead and in the short run, there is a lot of pain
Krugman: So now we’re in another depression, not as bad as the last one, but bad enough. And, once again, authoritative-sounding figures insist that our problems are “structural,” that they can’t be fixed quickly. We must focus on the long run, such people say, believing that they are being responsible. But the reality is that … Continue reading
U.S. | Rising innequalities in the United States was a root cause of the financial crisis
As noted by The Economist, “[s]everal prominent economists now reckon that inequality was a root cause of the financial crisis.” Indeed, in recent years there has been a proliferation of analyses supporting this view writes Till van Treeck in Did inequality cause the U.S. financial crisis? published on boeckler.de. The explanation is straightforward: As the benefits of rising … 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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