Three Unemployment Charts

This post provides updated charts to the “Three Unemployment Charts” post of January 12. As I have commented previously, most notably in an October 6 post, in my opinion the official methodologies used to measure the various job loss and unemployment statistics do not provide an accurate depiction.  However, I believe that the following charts … Read more Three Unemployment Charts

Comments On The HIRE Act

On Thursday President Obama signed the HIRE Act, a jobs stimulus.  The summary of the signing can be found here. There is also a transcript of his remarks found here. I could make many comments about this jobs stimulus.  However, as an intervention measure, it has many of the same characteristics of other interventions.  As … Read more Comments On The HIRE Act

Historical Perspective – Employment And Output

Here are two charts from the Minneapolis Fed site: http://www.minneapolisfed.org/publications_papers/studies/recession_perspective/index.cfm They show, from a historical context, how declines in employment and output during this period of economic weakness (which FRB Minneapolis refers to as a recession) compare to those of previous recessions. First, the employment chart.  Here are two notes regarding this chart: 1. Employment … Read more Historical Perspective – Employment And Output

The State of the Union Address – A Few Comments

I found plenty of noteworthy comments in last night’s State of the Union Address.   Here is the link to the transcript: http://www.whitehouse.gov/the-press-office/remarks-president-state-union-address Here are a couple of my thoughts: First, many stimulus initiatives were mentioned.  Some of these were new ideas.  That stimulus ideas are proliferating should not be a surprise, as many in … Read more The State of the Union Address – A Few Comments

Three Unemployment Charts

Occasionally, I have posted charts concerning unemployment.  With Friday’s unemployment release, here are three charts that I find noteworthy: First, from the St. Louis Fed site, the Median Duration of Unemployment.  Second, from the CalculatedRisk blog of 1/8/10, Unemployed Over 26 Weeks: http://www.calculatedriskblog.com/ Third, again from the CalculatedRisk blog of 1/8/10 – I like this chart … Read more Three Unemployment Charts

Article On Detroit Unemployment

Below  is an article from The Detroit News of December 16 titled “Nearly half of Detroit’s workers are unemployed”.  Among other things, Detroit’s economic situation seems to refute the theory, with which I vehemently disagree, that we as a nation do not “need” manufacturing in order to be successful. http://detnews.com/article/20091216/METRO01/912160374 back to <home> SPX at 1117.83 … Read more Article On Detroit Unemployment

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 more Ben 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 more Two 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 more Another 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 more A Note About Unemployment Statistics