…Civilian Unemployment Rate (the NGDP/RGDP gap is accounted for by inflation): Here’s a story to match that: In the late 70s, Arthur Burns managed to drive down unemployment even in…

…beyond the effective demand limit while inflation pressures begin to appear. Maybe they see the inflation as temporary, and thus don’t react to it. Or maybe unemployment is still above…

…for average Americans Hat Tip Digsby House Republicans, including Speaker John Boehner, face a sharp backlash from voters for pushing a budget deal that denies the extension of unemployment benefits…

…employed in some sectors of the economy and not enough in others. His explanation would imply structural unemployment. The economists above though do not see a problem with structural unemployment….

…its natural rate of unemployment. It is no puzzle. The natural level of output has fallen and the natural level of unemployment is higher too. The wage growth is a…

Paul Krugman notes that it is standard practice to estimate an accelerationist Phillips curve in which the change in inflation is related to unemployment. He also notes that recent data…

…she talks about the higher unemployment and labor shortage in China. She asks the question of how you can have labor shortage and higher unemployment together. Her answer revolves around…

…the sharp dip in unemployment has been almost completely erased, with July 2014’s value of 179,000 employed being a mere 1.7% below May 2008’s maximum of 182,100. Indeed, Iceland’s unemployment…

…the unemployment rate (like in 2014) in order to support vulnerable profit rates.) Now island #2… let’s raise real wages by 3% and productivity by 4%. Labor share drops to…

…the normal target after the unemployment rate falls to the non accelerating inflation rate of unemployment (google “credibly promise to be irresponsible”). As Brad notes, a FOMC doing exactly that…