Archive for the ‘Full Employment’ Category

What is the “natural rate” for u6?

November 23rd, 2015

Not the sexiest title, I grant you, but important stuff, nevertheless. Those of us interested in just how close we are to full employment like to track the more comprehensive “u6” rate, aka, “underemployment.” It includes all the unemployed, but also the millions of involuntary part-timers (IPT)—who are, quite literally, underemployed—plus a small subset of those… Read more

The next recession is out there somewhere. Meanwhile, we’ve got other problems.

October 25th, 2015

So Ylan Mui warns that a recession is out there somewhere, and we’re getting closer to it every day. That is, by definition, true. And while she garners some data to make the case, one can find data on both sides of the issue. Generally speaking, economists cannot predict recessions. Back in the mid-2000s, Dean… Read more

Full employment and the candidates’ agendas

October 19th, 2015

The presidential debates are generating an important discussion about which public policies will help to reduce inequality, with D’s focusing on tamping down excesses in financial markets, higher minimum wages, balancing work/families, college affordability, paid for by progressive taxation, and R’s going with trickle-down tax cuts, as is their wont. Over at WaPo, I argue that… Read more

A quick reflection on the current upheaval in DC politics: what are its larger costs?

October 9th, 2015

The House speakership debate is like the implosion of a dysfunction neutrino. It’s like a Russian stacking doll with ever deeper levels of dysfunction. It’s House Republicans basically showing the world that they can’t even figure out exactly how they’re going to remain dysfunctional. They’ll figure it out, but it’s going to be messy. They’re… Read more