Job Market Monitor
Economics
Industrial countries can act as if all is well or treat the crisis as a wake-up call
In August 2005, Raghuram Rajan, an economist at the University of Chicago’s Booth School of Business, predicted the financial crisis. And he did it at possibly the least friendly of venues: a conference of high-powered economists who had convened in part to honor Federal Reserve Chairman Alan Greenspan. Rajan presented a paper titled “Has Financial … Continue reading
The overlapping structural problems
There are several overlapping structural problems writes David Brooks on NYTimes.com. The country is divided when different people take different sides in a debate. The country is really divided when different people are having entirely different debates. That’s what’s happening on economic policy. Many people on the left are having a one-sided debate about how to deal … Continue reading
Focus on jobs, not the budget deficit says Krugman
Paul Krugman has a simple message for U.S. policymakers: Forget about the country’s huge budget deficit. It can be fixed over the next decade. Focus instead on the much more immediate problem of mass unemployment. “It’s not true we’re going over a cliff on fiscal problems,” the Nobel Prize-winning economist said in an interview with … Continue reading
Unemployment rate would be 7.1% without government job cuts
As investment in training of the long-term unemployed is decreasing with budget constraints, everything seems to be made to pump more long-term unemploymed in the reserve army we wrote in Disinvestment in Education In North America. The WSJ takes a look at what would happen in the U.S. if there were no Government Cuts. The unemployment rate … Continue reading
It will take until 2020 to close the Job Gap
U.S. jobs growth may have picked up earlier this year, offering the millions of unemployed hope that better days are ahead. But once again, the government’s monthly unemployment report comes with disappointing news. In April, the nation’s employers created 115,000 positions, after adding 154,000 in March, the Labor Department reported Friday. This was less than … Continue reading
Unemployment Rate Falling No Matter How You Measure It says DOL
No matter how one measures it, the unemployment rate has been steadily falling. In fact, since August of last year, the headline unemployment rate has dropped by one percentage point from 9.1% to 8.1%, and we know that about 70% of that drop is due to people finding work and not due to people leaving … Continue reading
Srinking Labor Force | Women are pouring out of the job market
Among the new employment figures the Labor Department released Friday morning is an obscure one that’s ripe for politicking: the labor force participation rate. It measures the percentage of the population age 16 and above who are actually working. The labor force participation rate fell last month to 63.6 percent, its lowest level since 1981. … Continue reading
Skrinking Labor Force Participation | Unemployment rate would be 11.1% or even 13.1%
If the same percentage of adults were in the workforce today as when Barack Obama took office, the unemployment rate would be 11.1 percent. If the percentage was where it was when George W. Bush took office, the unemployment rate would be 13.1 percent. Source: Read More @ The incredible shrinking labor force – The Washington Post.
Three main reasons that this recovery isn’t generating enough jobs
There are three main reasons that this recovery isn’t generating enough jobs: 1. Overall economic growth has been subpar since this recovery started Six months after the last recession ended, the U.S. economy began growing at an annual rate of 3.8%, adjusted for inflation. And although it has slowed since then, real growth for the … Continue reading
The extension of unemployment benefits may also have been a mistake write Becker-Posner
I don’t think there’s much else the government could have done to arrest the depression. Attempts at fundamental economic reform should not be made during a depression, because they create uncertainty, which increases the incentive of businesses and consumers alike to hoard rather than spend; hence the Administration’s health-care reform was mistimed. The extension of … Continue reading
The Euro Area Double Dip Recession
The latest reading of composite PMI for the 17-country region fell to 46.7 this month, even worse than an earlier flash reading of 47.4. Source: Read More @ The Euro Area Economy Is Deteriorating At A Disastrous Pace – Business Insider.
What is the best way to measure youth unemployment ?
Youth unemployment eases, but youth unemployment crisis continues The UK’s youth unemployment crisis is ongoing. So how different does the youth unemployment picture look when the alternative measure of youth unemployment is used? The latest unemployment data release marks the first anniversary of ONS publishing its alternative measure of youth unemployment, which excludes people in … Continue reading
The 86 million uncounted unemployed – May. 3, 2012
There are far more jobless people in the United States than you might think. While it’s true that the unemployment rate is falling, that doesn’t include the millions of nonworking adults who aren’t even looking for a job anymore. And hiring isn’t strong enough to keep up with population growth. As a result, the labor … Continue reading
New definition of Unemployment Rate | Supernatural Rate = Actual Rate – Natural rate
The Natural Rate Hypothesis has been around us for … since Freidman presidential adress (1968?). Economists know that the definition lies on shaky grounds.
At The Root Of the Global Job Gap | Finance and economic growth delinked
The neglect of credit and debt in economic theory continues to produce muddled policy thinking. Take the tendency to protect banks lock, stock and barrel, at huge costs. The mantra is that if we let banks go bankrupt, that will ruin the economy. This is a nifty inversion of the truth: it is precisely the … Continue reading
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