Econ Comments
CNN Money | How long should we help the unemployed?
Federal benefits have been lengthened or extended eight times since they were first authorized in June 2008. Some 17.6 million Americans have collected federal benefits over the past four years at a cost of nearly $185 billion to taxpayers.
American | Why Unemployment Is Worse Than You Think
The widely quoted unemployment rate misses an important factor: demographics.
Blogs
EconLog | Two Papers on PSST
Howitt argues that we ought to think of unemployment as a coordination failure. He points out that even Keynes can be read that way. That is, savers want more future output, but entrepreneurs are not sure which type of output they want, and the result is a coordination failure.
Calculated Risk | Jobs needed to reach 8% unemployment rate by November 2012
Right now the FOMC is forecasting the unemployment rate will be in the 8.5% to 8.7% range in Q4 2012, and private forecasters are even more pessimistic. Goldman Sachs is forecasting 9% in Q4 2012, and Merrill Lynch is forecasting 8.8%.
NRO: The Corner | Arguments Against Extending Unemployment Benefits
The emotional argument is understandable: If you ignore what is unseen, there is no doubt that failing to extend UI would be painful for many current beneficiaries. That being said, it’s one thing to acknowledge the emotional aspect of UI and quite another to claim UI creates jobs.
