First, there’s this WaPo piece on an important benefit of full employment: the closure of racial unemployment gaps. The piece links to a new Fed study that’s worth a close look. Nothing OTE’ers wouldn’t know given my emphasis on the disproportionate benefits of tight labor markets to less advantaged groups, but the Fed study provides… Read more
[co-authored with Ben Spielberg] OTE readers know that in the quest for full employment, we pay a lot of attention to the extent of slack in the labor market (and btw, our next podcast episode will focus on this concept of labor market slack—what is it, how much is there, etc. We know…we can hardly wait,… Read more
…I’ve got three reasons why you should reconsider. Over at WaPo.
I wanted to add some quantitative analysis to my WaPo piece from yesterday, which argued for remembering the importance Dr. King’s “institutional” analysis, which gives a far greater role to power and systemic norms than your basic market-forces analysis. I noted that Dr. King became increasingly committed to full employment—the slide below is from the… Read more
[Emily Horton (research asst.) and Emma Sifre (budget intern) are colleagues of mine at CBPP. Just to mix things up a bit, I asked them to choose a figure from the new 2017 ERP and write a bit of text to go with it (I’m featuring figures from the ERP this week). I think they made… Read more