News
Market Watch | Employment outlook still weak: Manpower
Employers’ hiring plans for the fourth quarter are “relatively stable” — slightly down from the third quarter, but a tick higher than in the prior year, according to the Manpower Employment Outlook survey released Tuesday.
WSJ | U.K. Public Sector Sheds Jobs
The Office for National Statistics said the number of people employed in the public sector fell by 111,000 in the second quarter to 6.04 million, the largest decline since records began in 1999. There are now 240,000 fewer people employed in the public sector than there were in the second quarter of 2010, the ONS said.
Politico | Hill staffers fear pay cuts, layoffs
...that’s life on Capitol Hill, where even the coffee pot is on the chopping block as senior staffers scramble to slash their office budgets to meet requirements the new Republican majority put in place this year.
Politico | Experts fret over workforce dropouts
About 44 percent of unemployed workers have gone without paychecks for six months or longer, according to the Richmond Federal Reserve Bank. It’s an unprecedentedly high number that had never climbed past 26 percent during the past 50 years.
Econ Comments
Washington Times | WOLF: Hey loser, get a job or else
If Obamacare prevails, then what’s to prevent Obamajobs?
Blogs
Freakonomics | Examining the EPA Cave-in: Does the Broken Window Fallacy Apply?
Unless these businesses can take on debt, which is doubtful if they are cash constrained, then the new regulations force them to either shutter their businesses or make one-for-one reductions in other expenditures. Among those without savings, then, the broken window fallacy holds strong. In essence, creating a job for a pollution “abater” comes at the cost of a job for a shoemaker or for the shopkeeper, himself.
Atlantic: McArdle | The New New New Economy
The jobs that are being automated are the stable, well-paying jobs where you could settle in and know exactly what you'd be doing for years.
Reports
NBER | Labor Market Dysfunction During the Great Recession
This paper documents the abnormally slow recovery in the labor market during the Great Recession, and analyzes how mortgage modification policies contributed to delayed recovery.
