Archive for the ‘New Posts’ Category

Unemployment down but so is pace of job gains

September 4th, 2020

Payrolls were up 1.4 million in August and the unemployment rate fell sharply from 10.2 to 8.4 percent according to this morning’s labor market update from the Bureau of Labor Statistics. Payrolls remain 11.5 million below their pre-pandemic peak in February and the jobless rate is still more than twice its February rate of 3.5… Read more

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