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Since the end of the 1970s, the United States has seen a dramatic increase in economic inequality. While the United States has long been among the most unequal of the world’s rich economies, the economic and social upheaval that began in the 1970s was a striking departure from the movement...
Persistent link: https://www.econbiz.de/10008545818
The OECD recently published a lengthy volume examining the causes of rising inequality in most wealthy countries over the last three decades. This paper examines that study, finding that the OECD misses most of the story of inequality because its primary focus is the ratio of the annual wage of...
Persistent link: https://www.econbiz.de/10010556770
The IMF’s most recent World Economic Outlook (WEO), published last week, projects world economic growth will slow, from 4.8 percent in 2010 to 4.2 percent next year. Throughout the report, there are numerous concerns expressed about the “fragility” of the global economic recovery. The...
Persistent link: https://www.econbiz.de/10008671783
measures of long-term hardship by race and gender, education, and age. In addition to the conventional long-term unemployment … Bureau of Labor Statistic’s “U-6” alternative unemployment rate, which adds “discouraged” workers, the “marginally attached …,” and workers who are “part-time for economic reasons” to the official unemployment rate. …
Persistent link: https://www.econbiz.de/10009652357
The official concept of “long-term unemployment,” while useful, is incomplete and, in some cases, even potentially …-term unemployment in two ways. First, we encourage shifting from a narrow focus on long-term unemployment toward a broader concept of …-term unemployment – including “discouraged” and “marginally attached” workers and those involuntarily working part-time jobs – face long …
Persistent link: https://www.econbiz.de/10009398262
Following the most recent recession, an attempt has been made to explain current levels of unemployment as resulting … from structural unemployment, or a mismatch between the skills of the unemployed and the types of jobs available. The … other will lead to very different policy solutions, it is important to accurately assess the cause of unemployment. This …
Persistent link: https://www.econbiz.de/10010579001
The strong rise in the U.S. stock market since the spring and the return to positive economic growth in the third quarter of this year have created a consensus among economists that the Great Recession is very likely over. Unfortunately, the end of the official recession will have little visible...
Persistent link: https://www.econbiz.de/10008545825
This paper looks at the problem of state budget shortfalls during the recession and calculates the number of jobs that would be lost (nationally and by state) if states utilize pro-cyclical spending cuts in an attempt to balance their budgets. This is an update to an earlier paper from December...
Persistent link: https://www.econbiz.de/10008545832
In the current recession, millions of Americans have lost their jobs. Unemployment has increased nationwide to levels …
Persistent link: https://www.econbiz.de/10008545834
This report shows that the $787 billion included in the 2009 ARRA will not have as much of an immediate effect on the economy as initially anticipated. After subtracting the annual AMT patch and acounting for state level spending and tax cuts, the full effect of federal stimulus will equal a...
Persistent link: https://www.econbiz.de/10004999573