David R. Henderson  

Good News on Employment

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Ben Casselman of FiveThirtyEight writes:

Prime-age employment rate hits 78.7%, highest since September 2008.

Of course we still have a long way to go to get back to the peak of about 17 years ago.


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CATEGORIES: Labor Market




COMMENTS (4 to date)
Thaomas writes:

And can that still low employment ratio, the very slow recovery, and the slow growth in real wages not all point to the Fed's failure to maintain price level growth at 2% pa?

David R Henderson writes:

Thaomas,
I doubt it. The economy has had years to adjust so that the wage inflexibility, which the 2% inflation rate is presumably supposed to offset, should have gone away by now. I think it’s more of a disability insurance and minimum wage story.

john hare writes:

I wish employment rate would be the default term instead of unemployment rate in the various news sources. To me, it is a much more honest statement of conditions.

Anh Ha writes:

We know that on January 1st, 2018, the minimum wage will increase to $15 per hour. However, there is some problem toward increasing the minimum wage:
1) It will increase the unemployment in the economy due to the strong trade union powers while the owners of the company will try to survive on their out put prices.
2) The second effect is this minimum wage will lead to reducing the voluntary unemployment in the economy.
Do you think that increasing the minimum wage is the good thing?

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