Archive for the ‘New Posts’ Category

Figures behind our “targeting the Black rate” essay

June 14th, 2020

Janelle Jones and I have a new piece coming out wherein we explain why and how the Federal Reserve should target the Black unemployment rate in setting monetary policy. The first figure to which we refer is the share of quarters since 1972 (when the Black jobless rate data start) that the unemployment rate for… Read more

The US job market catches the virus and crashes.

May 8th, 2020

Due to the shutting down of the American economy to control the spread of the coronavirus, the bottom fell out of the job market last month. I’ve been writing up monthly jobs reports for decades, and I’ve never seen anything remotely close to this. Employment gains that were made over almost a decade vaporized in… Read more