Full employment

This tag is associated with 21 posts

US – Labor market is operating at or beyond its full potential FRBSF finds

How much do demographic changes affect the overall LFP rate trend? To quantify how much of the decline in the aggregate LFP rate is driven by changes in the composition of the population, we construct two hypothetical aggregate LFP rate scenarios. In this approach, we use Current Population Survey (CPS) microdata from the Bureau for … Continue reading

UK – Full employment is back on the agenda

‘Full employment’, for so long considered an unreachable relic of a bygone age, is back on the agenda. That it is once again part of economic and political debates is testament to the UK’s remarkably strong employment performance in recent years. A record-high employment rate is something few people would have thought possible this soon … Continue reading

FedViews – The April jobs report left little doubt that the economy has reached full employment

The April jobs report left little doubt that the economy has reached full employment. Unemployment fell to 4.5% in March, below most estimates of its sustainable level in a healthy economy, or the natural rate. Other indicators also point to stronger conditions. For example, the number of workers who reported being involuntarily part time employed … Continue reading

US – Full employment may be redefined

Fed policymakers indicated in their post-meeting statement Wednesday that there’s still room for improvement in the job market. While the unemployment rate “stayed near its recent low” in December, “some further strengthening” is expected in labor conditions. That doesn’t mean central bankers or Labor Department economists are about to abandon the unemployment rate as their … Continue reading

UK – Support for the over 50s should be at the heart of a full employment strategy Resolution Foundation says

The government should target encouraging over one million more people over 50 into work by the end of the parliament as part of its full employment drive, the Resolution Foundation says today (Saturday) ahead of a major report into securing full employment.  The call comes ahead of the final report next week of the Foundation’s … Continue reading

UK – The pursuit of full employment

While there is some consensus around the merits of pursuing full employment, there is no widely agreed definition of what constitutes ‘full’. Nor have we heard much on quite how any given target might be achieved. In this briefing– which marks the launch of a major piece of research on the topic which will conclude before … Continue reading

Queen’s Speech in UK : Is full employment a benefits cap ?

Legislation will be brought forward to help achieve full employment and provide people with the security of a job. New duties will require my ministers to report annually on job creation and apprenticeships. Analysis: This is a reference to the full employment and welfare benefits bill, which, despite the title, seems to be devoted to … Continue reading

Poverty and Unemployment and Full Employment / The Early Debate between Beatrice Webb, Sidney Webb and William Beveridge

According to Beveridge’s 1944 report, only a state policy of full employment could free Britain from what he termed the ‘giant evils’ of Want, Disease, Ignorance and Squalor. The fight against unemployment and the fight against poverty were one and the same, according to Beveridge: “If we attack with determination, unity and clear aim the … Continue reading

What is full employment in Canada ? / Too few Canadians are unemployed to meet the inflation target writes CIBC

The Bank of Canada is careful to express the degree of slack in the economy through reference to the “output gap,” a measure tied to real GDP. That avoids ever having to say that too few Canadians are unemployed to meet the inflation target, but that’s really what’s implied when the output gap turns positive writes CIBC Continue reading

Canada / Give the provinces full control over EI says Conservative Senator Diane Bellemare

In Créer et partager la prospérité (Creating and Sharing Prosperity), Ms. Bellemare argues for giving the provinces full control over EI. While employee and employer premiums would be the same across Canada, each province would be able to set eligibility rules and decide how to split the funds collected between cash benefits for the unemployed and training programs Continue reading

US / Full employment is not an impossible dream says Blinder

In his keynote address, Blinder, a former vice chairman of the Federal Reserve, reminded listeners, “We know what full employment looks like, feels like. It is not an impossible dream… The way to create jobs without spending a budgetary nickel is monetary policy.” Continue reading

Australia / Defining full employment

More than anything else in the last hundred years, explanations of unemployment in capitalist economies and the related notion of full-employment have been at the heart of debate in macroeconomics Continue reading

Restoring full employment as a global priority

With social unrest and unemployment being widespread worldwide, there is an urgent need to restore full employment as a global and national priority goal Continue reading

US Unemployment Rate / Why Not Target a 3% ?

Sad to say, the Fed considers 5.2 percent to 6 percent the economy’s long-run normal rate of unemployment. Achieving that rate would be a vast improvement over today. Still, once upon a time and not all that long ago, America’s elites strived for full employment, a catchphrase now relegated to economic history. Full employment was … Continue reading

US / At 2012 pace, full employment won’t come until 2022

The jobs numbers have been crunched and re-crunched, and it turns out that the U.S. economy added an average of 181,000 jobs per month in 2012. That’s a faster rate than in 2011 or 2010. But it’s also relatively sluggish, given the deep, deep hole the economy is still in. If the United States keeps adding … Continue reading

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