The unemployment rate typically falls during the expansion phase of the business cycle. The lowest unemployment rate in modern history was 1.2% in 1944.4 Note It may seem counterintuitive to think unemployment can get too low, but it can. The Federal Reserve does not target specific figures ...
A New Reason to Question the Official Unemployment Rate – NYTimes.com. Filed underIn the news New Job Law Misses the Mark “That means that if all the job openings were filled tomorrow, more than five million of the nation’s 9.8 million officially unemployed workers would still be out of...
The basic prescription of monetarism is that a government should not try to fine tune the supply of money in order to combat unemployment or to spur the economy to more rapid growth. Let the supply of money grow steadily at about the rate of growth of output in the economy - employ a ...
TheunemploymentpictureinConnecticutislessbleakthan thatofthenation,withapproximately104,600peopleor6.4per- centofthestate'sworkersunemployedasofJune,1983.5De- spitethelowerunemploymentrate,theConnecticutunemploy- mentcompensationfund'israpidlybeingdepleted.This ...
The longest recessions were under W Bush and Obama; Reagan; and Nixon/Ford, with the unemployment rate reaching 10 percent, 10.8 percent, and 9 percent respectively in those recessions. The shortest recession was under Jimmy Carter, six months in 1980, but the only Democrat to have a recessio...
We had the humiliating situation last year, when there was a flagrant case of violation in connection with the Tailoring Trade Board rate. It was not the fault of the inspectors, but the Government Department decided that the thing was too difficult, and that it was not possible 605to conduc...
The world economy today is vastly different from the 1930s, when Seymour Harris, the chairman of this meeting, infected me with his boundless enthusiasm for economics and his steadfast confidence in its capacity for good works. Economics is very different, too. Both the science and its subject...
Therefore, I wouldn’t foresee a scramble of economic actors around the world to constantly bid up the exchange rate for the gold-backed currency in order to obtain the essential good, e.g., oil. Gold could be obtained in exchange for any currency, not just the “one(s)” backed by ...
It thus becomes clear that one of the considerations in Keynes’ mind in January 1937 was the importance of retaining a reserve army of unemployed to meet the requirements of a higher rate of rearmament, which Keynes thought it impolitic to advocate until the end of the following month, by ...
The natural unemployment rate is measured by the number of people unemployed due to the structure of the labor force, such as those who lack the skills to gain employment or those moving from job to job.