Ben Bernanke On Unemployment

Ben Bernanke gave a speech on Monday at the Economic Club of New York.  Here is the link: http://www.federalreserve.gov/newsevents/speech/bernanke20091116a.htm I found his comments on unemployment to be noteworthy:  Here are some excerpts: “In addition to constrained bank lending, a second area of great concern is the job market. Since December 2007, the U.S. economy has … Read moreBen Bernanke On Unemployment

Two Unemployment Charts

The following chart is from the CalculatedRISK blog of November 8 http://www.calculatedriskblog.com/2009/11/summary-and-look-ahead.html I like this chart as it presents a relative depiction of Post WWII recession job losses.  As one can see, our current period of economic weakness’s job losses are outsized both in duration and severity: Here is a long-term view of the official stated Unemployment Rate.  … Read moreTwo Unemployment Charts

Another Note On Unemployment Statistics

On October 6 I wrote about my thoughts regarding Unemployment Statistics.  That link can be found here: https://www.economicgreenfield.com/2009/10/06/a-note-about-unemployment-statistics/ I recently ran across the following from John Mauldin, found in his October 23 “Thoughts From The Frontline” newsletter: “With 9.8% unemployment, 7% underemployed (temporary), and another 3-4% off the radar screen because they are so discouraged they … Read moreAnother Note On Unemployment Statistics

A Note About Unemployment Statistics

From time to time, I will write posts that contain the Unemployment Rate or various other job loss measures.  I show these statistics as they are widely used and quoted by others.  From my perspective, however, the methodology used to measure the various job loss and unemployment statistics does not provide an accurate depiction.  There are a variety … Read moreA Note About Unemployment Statistics

Another Chart Reflecting Job Losses

I would like to present an interesting chart on job losses.  My last chart concerning job losses was posted on September 10.  The commentary I presented there is still highly applicable to the latest unemployment numbers. This chart is from http://www.calculatedriskblog.com/ from October 2.  I like this chart as it presents a depiction of the relative severity … Read moreAnother Chart Reflecting Job Losses

An Interesting Chart On Job Losses, Revisited

Here is an updated chart from chartoftheday.com that I have shown and discussed previously, in my July 7 post: http://www.chartoftheday.com/20090904.htm?T There are other charts similar to this, from other sources…however, I find this chart particularly interesting as it incorporates the long-term averages of two other periods.  As I wrote in my July 7 post: “As … Read moreAn Interesting Chart On Job Losses, Revisited

Median Duration of Unemployment

I think the following chart is one that surely deserves attention: (click on chart image to enlarge) Source: St. Louis Federal Reserve It shows the Median Duration of Unemployment.  One notices the trajectory of the chart during our current period of economic weakness. Although I have reservations as to how the data on this chart … Read moreMedian Duration of Unemployment

“Why Aren’t Companies Hiring?” Part V

Businesses have reacted to the tumultuous economic conditions in many ways.  A logical action has been to reduce cash outlays to a level appropriate to what the new economic conditions seemingly warrant.  Along these lines, expenses have undergone scrutiny and in many cases have been cut, in order to preserve cash as well as improve profitability … Read more“Why Aren’t Companies Hiring?” Part V

“Why Aren’t Companies Hiring?” Part IV

In addition to the adversity and financial strains suffered by firms during this period of economic weakness, there exists significant uncertainty on many fronts.  As mentioned in the last post, many businesses would find any further economic weakness to pose a formidable challenge.  Although economist forecasts are predicting a weak economic recovery from here, economic forecasts have proven less than accurate the last … Read more“Why Aren’t Companies Hiring?” Part IV

“Why Aren’t Companies Hiring?” Part III

The economic weakness that has occurred has caused a significant amount of financial damage.  This can be seen in a variety of indicators and statistics, such as widening credit spreads, defaults, credit downgrades, etc.  These worsening conditions have been accompanied by a curtailed (in many cases severely) access to credit.  Whereas credit and other types … Read more“Why Aren’t Companies Hiring?” Part III