The US economy added more than half a million jobs in January, significantly exceeding forecasters’ expectations. A robust labor market complicates the narrative of an impending recession. But some commentators […]
Tag: Unemployment
Reducing Unemployment Is Not a Free Lunch
One of the fundamental lessons of Econ 101 is captured in the acronym TANSTAAFL (pronounced “tan-stah-full”): “There ain’t no such thing as a free lunch.” Of course, this acronym isn’t […]
Understanding Unemployment
Unemployment statistics are prepared by the Department of Labor for the US from surveys. The Census Bureau sends out the monthly household survey to 60,000 households, separating adults into those […]
Is This What Monetary Tightening Looks Like?
Federal Reserve officials say they are ready to tighten the stance of monetary policy. According to the December Federal Open Market Committee (FOMC) meeting minutes, there was widespread agreement among […]
Americans Don’t Hate Work, They Hate the Workplace
News outlets are calling it a “Great Resignation”: millions of able-bodied Americans refusing to work. This phenomenon, so alien to America’s ethos as a leader in production and innovation, has […]
The Costly but Deliberate U.S. Labor Shortage
For more than a year, due mainly to illiberal policies associated with Covid-phobia and lockdowns, the U.S. has experienced various types and magnitudes of labor shortages. In short, the quantity […]
Dangerous Demographics in the Monthly Labor Summary
The headline numbers appear strong. The official unemployment rate fell to 5.2 percent. Another 225,000 new jobs were created, the 16th month of net increase in non-farm payrolls since the […]
The Great Reconsideration
Federal unemployment benefits end today. Many schools are featuring in-person classes again, which along with the end of summer vacations will free up parents to go back to work. And […]