CalculatedRiskBlog reports: Here is a depressing report from the National Employment Law Project: States Made Unprecedented Cuts to Unemployment Insurance in 2011 NELP’s new analysis shows that in 2011, six states cut the maximum number of weeks that jobless workers can receive unemployment insurance to less than 26 weeks—a threshold that had served as a standard for all 50 states for … Continue reading Unemployment Benefits Cut Will Worsen Things.
The "recovery" is flat-lining. The employment report for June shows the continuing bad news. I'll let CalculatedRisk give us the facts: From the BLS: Nonfarm payroll employment was essentially unchanged in June (+18,000), and the unemployment rate was little changed at 9.2 percent, the U.S. Bureau of Labor Statistics reported today. Employment in most major private-sector … Continue reading America Flatlines – Employment Report for June 2011
First the facts and then my comments. Calculated Risk Blog reports from the BLS: From the BLS: Nonfarm payroll employment changed little (+54,000) in May, and the unemployment rate was essentially unchanged at 9.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains continued in professional and business services, health care, and mining. Employment levels in … Continue reading The Economy Is Stalling – Employment Report for May 2011
Well while I've been away from posting the last few weeks, things are starting to not look good. Two months ago I was concerned that the "recovery" was going to proceed at a normal growth rate and effectively close out those already unemployed from employment. I even have a draft long post about it called … Continue reading Ruh-Roh Raggie, Trouble On Employment
For years and through the early part of the Great Recession of 2007-09, Michigan was ground zero for unemployment. Unemployment rates of around 15% - worst in the nation. But once the GM and Chrysler completed their bankruptcies, it has begun to emerge. In the past 12 months Michigan has made relatively good progress on … Continue reading In Michigan, Governor Snyder Is Increasing Unemployment
An update on the question of structural vs. cyclical unemployment, this time with respect to policy options for each. For background, see these previous posts: on how economists define or distinguish between structural and cyclical and a look at the situation in 2011. Time is short and specialization is efficient, so I'll quote Mark Thoma … Continue reading Structural vs. Cyclical Unemployment Revisited: Doing Nothing Is Not a Smart Option
The February 2011 employment report is in. I'll let Calculated Risk summarize, but the bold emphasis is mine: The BLS reported that payroll employment increased 192,000 in February and that the unemployment rate declined to 8.9%. If we average the last two months together - the 63,000 payroll jobs added in January and the 192,000 … Continue reading Employment Report – Feb
From Alan Blinder via Brad deLong (bold emphasis mine): Alan Blinder: The Economic Silly Season Is Upon Us: 'Debt ceilings' and 'job killing' spending are two dumb ideas. Obsessing on the deficit while unemployment is at 9% is another: Our country seems mired deeply in the silly season.... The silliness comes in at least four … Continue reading Obsessing on Deficit When Unemployment Is 9% Is Silly
So following up on my post on the types of unemployment, when unemployment is high, how do we know if it's due to structural or cyclical causes? The answer is important because it tells us what kind of policy actions to take. Do we need stimulus? (addresses cyclical), or do we need job-retraining, relocation, and … Continue reading Is Our High Unemployment Structural?
Economists classify unemployment into four types according to what caused the unemployment. If we assume the goal is "full employment" (never mind how we might define or measure "full" right now - there's mischief there), then what we're really saying is that our goal is for the economy to create an appropriate a job for every … Continue reading Types (Causes) of Unemployment