Tag Archives

Archive of posts published in the tag: Unemployment

The True Dynamic of Employment

From Deirdre McCloskey in Reason Magazine, The Myth of Technological Unemployment In 1910, one out of 20 of the American workforce was on the railways. In the late 1940s, 350,000 manual telephone operators worked for AT&T alone. In the 1950s, elevator…

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The Unworkers

From The Wall Street Journal and Nicholas Eberstadt,The Idle Army: America’s Unworking Men Who are America’s new cadre of prime-age male unworkers? They tend to be: 1) less educated; 2) never married; 3) native born; and 4) African-American. But those…

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More ‘Slack’ than We Realize

From Robert Samuelson in The Washington Post, Interest rates and the Fed’s great ‘slack’ debate: Is it time to consider raising rates to preempt higher inflation? The answer depends heavily on the economy’s slack: its capacity to increase production without…

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The Cost of Bad Ideas

Why Young People Can’t Find Work, by Andrew Puzder in the Wall Street Journal Excerpts: Consider these grim employment numbers: • In February the Bureau of Labor Statistics (BLS) recorded the lowest percentage of 16- to 19-year-olds working or actively…

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Expanding Inequality is the Result of Misguided Fiscal Policy

This administration which demonizes the rich, bemoans growing inequality, and holds redistribution as a high value has in their stunning ignorance achieved the opposite results they claim to want.

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An Unlikely Stimulus of Efficiency

  from Mark Perry at his blog Carpe Diem, The current state of the US economy explained in one chart: The fact that the US economy is producing 5.6% more output now than in 2007 with 2 million fewer workers…

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Who Are the Unemployed?

  At a business meeting we had an economist  share his views of the economy.  One comment he made was that only a minuscule portion of the unemployed were on government assistance.  I found this comment curious and certainly counterintuitive.…

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Devaluing College Education

from the Wall Street Journal, 4/6/13, Ben Casselman writes Number of the Week: Youth Unemployment at 22.9%? Excerpt: Perhaps no group has been hit harder by the recession and grinding recovery than the young. The official unemployment rate for those…

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Criminalizing The Hiring Process

Dan Mitchell writes The Perverse Unintended Consequences of Anti-Discrimination Laws in his blog International Liberty February 23, 2013 Excerpt: And if there are two applicants who otherwise seem to have equal qualifications for a certain job, but one has been out…

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The Benefits Trap

In the Wall Street Journal Richard Vedder writes The Wages of Unemployment, 1/15/13. Excerpts: The sharp rise in food-stamp beneficiaries predated the financial crisis of 2008: From 2000 to 2007, the number of beneficiaries rose from 17.1 million to 26.3…

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Promoting Unemployment

Richard Vedder writes in the Wall Street Journal The Wages of Unemploymewnt, 1/15/12. Excerpts: Compare 2010 with October 2012, the last month for which food-stamp data have been reported. The unemployment rate fell to 7.8% from 9.6%, and real GDP…

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The Minimum Wage And Poverty

Mark Wilson writes The Negative Effects of Minimum Wage Laws in the Cato Institute Policy Analysis, 6/21/12 Some summary points from his paper: 1.8 million hourly workers were paid the minimum wage in 2010. Of those 49% were aged 24…

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Turning the Safety Net into a Hammock

The attempt to pursue social justice by political means is not a new idea. It is the centerpiece of political philosophy for over two centuries.  Even the classical liberals who acknowledged the equal importance of economic liberty along with our…

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The Inevitable vs the Intolerable

Few economic policies demonstrate the difference between intent and outcome more than the minimum wage. Those who push for higher minimum wages in the cause of social justice refuse to accept the outcome that the cost is often shown in…

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Structural Unemployment

Mark Perry analyzes the current Bureau of Labor Statistics unemployment data is his blog, Carpe Diem, a required daily read for me. Excerpt from Interesting Facts from Today’s Employment Report, 1/6/12: The unemployment rate for workers with a college degree…

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Training to Become Worthless

Perhaps the most destructive policy of this administration has been the dramatic extension of unemployment benefits to 99 weeks. We have accumulated debt to give to the most unproductive act imaginable; paying people not to work.  Nancy Pelosi’s now famous…

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The Poverty Trap

Abin Sadar writes in American Thinker The Professional Poor 9/24/11 Excerpt: The genuine poor are people who, through debilitating circumstances great or small, have become incapable of sustaining a work life, and sometimes even a home life.  Because of mental…

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Five Reasons the Jobs Bill Will Fail

The president’s jobs bill is a non starter, a desperate attempt to do something by doubling down on failed policies. Point  one– He offers tax breaks to workers by extending the reduction in FICA taxes, and making up the deficit…

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How to Make a Problem Worse

As a result of the depressed economy the difference in income between whites and minorities have widened. While the most shrill will find this to be clear testament to the inherent racism in the GOP, the reality is that both…

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On the June Unemployment Shock

A few PhD economic bloggers I respect have forecasted a slow recovery but an improvement in employment numbers.  Based on my view from my small corner of the world I have remained skeptical.  Many small business people have remained reluctant…

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