SPECIAL REPORT 7 October 2013 [slightly edited 6/16] by June Zaccone, Assoc. Prof. of Economics (Emerita), Hofstra University and NJFAC Executive Committee The official unemployment rate fails to reveal the full social burden that our slow recovery imposes on workers and on our economy as well. This limitation is created by the disappearance of millions… Read More Why are Men of Prime Age Missing from the Labor Force?
by June Zaccone, Assoc. Prof. of Economics (Emerita), Hofstra University and member, NJFAC Executive Committee. Special Report 5 June 2015; Graphs have been updated 2/20 If the LFPR were at its pre-recession level, the unemployment rate in September 2013 would have been 10.2% instead of 7.2%. The participation rate and its changes can lead to… Read More The Labor Force Participation Rate and It Trajectory–Why It Matters
by Helen Ginsburg, Professor of Economics Emerita, Brooklyn College of the City of New York and Executive Committee, National Jobs for All Coalition Full employment is an elusive term that reflects divergent concepts, values and power relations (Ginsburg, 1991; Gross, 1991; Nixon, 1973). Though concepts overlap, two main strands are discernible. One emphasizes enhanced human… Read More What is Full Employment?*
THE UNEMPLOYED SPEAK* 1. Jack was laid off after 17 years as a mechanic when his plant was relocated in Mexico. Unable to find a comparable job, Jack is working at Walmart at a fraction of his previous wage. Answer: Jack is a casualty of unemployment, but he is counted as employed, despite his downgrading.… Read More Can You Count the Unemployed? an NJFAC Quiz
Here’s something that many Americans — including some of the smartest and most educated among us — don’t know: The official unemployment rate, as reported by the U.S. Department of Labor, is extremely misleading. Right now, we’re hearing much celebrating from the media, the White House and Wall Street about how unemployment is “down” to… Read More The Big Lie: 5.6% Unemployment by Jim Clifton
