Economics 311:  Unemployment & Labor Markets

Link to slides

Link to slides

Read:

• • "Jobless Recoveries and the Disappearance of Routine Occupations", Nir Jaimovich and Henry Siu, VoxEu, November 2012

    • For interest, more by these authors"  "The Who and How of Disappearing Routine Jobs", Matias Cortes, Nir Jaimovich, Christopher Nekarda, and Henry Siu, VoxEu, October 2014

For Interest:

• • Retail Apocalypse!   VisualCapitalist.com   April 28, 2017

  • http://www.visualcapitalist.com/retail-apocalypse-everything-need-know/

  • Bureau of Labor Statistics Glossary

• Unemployment rate

  • • Unemployed for 15 weeks or longer - By far the worst since we started computing this in the late 1940a

    • Median duration of unemployment - Far worse than at any time since we started computing this stat in the 1960

• Labor Force Participation Rate:  Thank you ladies for that amazing economic growth from 1960 to 1990

• • LFPR = (Working or looking for work)/(Working age population)

• "Why do people say they aren't in the labor force?"  Tim Taylor, January 16, 2016

• • "Exploring Differences in Unemployment Risk", New York Fed's Liberty Street Blog, November 3, 2015

• "Technological Progress Anxiety:  Thinking About 'Peak Horse' and the Possibility of 'Peak Human'", Brad Delong, September 24, 2015

Data:

• • OECD Data on hours worked per year.  Lazy Germans; why can't they be more like Greece or Mexico?  

For amusement:

• How about a cartoon about a stripper?

• World's Oldest Paycheck Shows Workers were Paid in Beer

• Krugman versus the Austerions