Tuesday, January 7, 2014

The labor market is still way worse than the official numbers suggest

While in Washington politicians discuss about extending or not unemployment benefits, and Dems for the first time in a while seem to have a winning argument on pro-labor policies (not just unemployment benefits, but also the minimum wage, as noted by Mark Weisbrot here), the rate of unemployment when one counts the total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons continues to be close to 9%.
This is very far from full employment, which should be the central economic goal of any left of center government.

1 comment:

  1. I read on the internet recently that there are 100 million people between the ages of 16 and 65 in this country who do not have jobs, is that true?


Godley-Tobin Lecture - Friday 1st March11:30am - 12:45pm

Please note the change in date and venue. Bob Rowthorn's Godley-Tobin Lecture. titled “Keynesian Economics: Back from the Dead?”  It...