The Atlantic (April 24, 2013)
“Why has Japan’s economy been so lousy for so long? One possibility is that economic stagnation and job insecurity feed on each other—that the sorry state of workers who graduated into Japan’s recession in the early 1990s has hindered growth and, in turn, dimmed job prospects for today’s graduates. Perhaps precarious youth employment is both a symptom and an agent of economic decline.” This is a trap to be wary of as America “struggles to contain the Great Recession’s damage….We must prevent a lost generation by any means necessary. Because it’s hard to stop at just one.”
Tags: Economic decline, Employment, Japan, Job prospects, Recession, U.S.
New York Times (February 18)
“A higher minimum wage would be good for workers and for the economy.” The old job-killing myth “has been debunked… a higher minimum wage boosts pay without measurably reducing employment, while improving productivity. One study from the Federal Reserve Bank of Chicago found that a $1 increase in the minimum wage results, on average, in $2,800 in new spending by affected households in the following year, in large part because the increase helps workers accumulate down payments to buy cars. Owning a car, in turn, helps workers to keep their jobs.”
Tags: Economy, Employment, Federal Reserve, Minimum wage, Productivity, Workers
Wall Street Journal (February 6, 2012)
“It’s hard to keep the U.S. economy down…. Employers added 243,000 net new jobs in January.” At just 8.3%, unemployment fell to the lowest rate since February 2009. But the durability of the economic recovery remains to be seen. “The job growth this time is stronger, though GDP growth is still well below the pace of a normal recovery. Even with the recent gains, this is also by far the worst jobs recovery since the Great Depression.”
“It’s hard to keep the U.S. economy down…. Employers added 243,000 net new jobs in January.” At just 8.3%, unemployment fell to the lowest rate since February 2009. But the durability of the economic recovery remains to be seen. “The job growth this time is stronger, though GDP growth is still well below the pace of a normal recovery. Even with the recent gains, this is also by far the worst jobs recovery since the Great Depression.”
Tags: Employment, GDP, Great Depression, U.S., Unemployment
