Tag: Unemployment
The U.S. Economy’s Hidden Resilience

One of today’s pivotal questions is the ability of the economy to cope and adapt in the face of mandatory and voluntary social distancing. Real GDP in the second quarter of 2020 fell at an annualized rate of 32.9 percent, an unprecedented drop. It has become commonplace (and bipartisan) to assume that economic vitality...
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Why Is Unemployment Rising?

The obvious answer to the question in my title–that unemployment is rising because of the COVID-19 pandemic–is not quite correct. The virus is not causing unemployment to rise. The government’s response to the virus is causing unemployment to rise. I won’t offer an opinion on whether the government response, overall, goes too far or...
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‘Grand Bargain’ Is Bay State’s Grand Disaster

Increased minimum wage and forced paid leave will ultimately hurt workers.

California’s Dream World

California Gov. Jerry Brown caved in recently to intense lobbying from labor-union leaders and signed a bill to raise the state’s minimum wage from $10 to $15 per hour by 2022. “California is proving once again that it can get things done and help people get ahead,” Brown said. Dream on, Gov. Brown –...
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Beware Survivorship Bias

Suppose you wanted to know how many of the soldiers, sailors, and airmen who served during World War II were killed in that war. So you sent inquiries to a random sample of persons whose names were drawn from a list of all those who served in the military during the war, asking: Were...
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Love Gov: “Too Real”?

As part of our recent exhibit at the FreedomFest conference, we continuously screened our new online video series Love Gov. If you haven’t had a chance to watch it yet, each of the approximately 5-minute episodes deals with one of the five key issues that the Harvard Institute of Politics, Pew Research, and other...
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Higher Minimum Wage Leaves Working Poor Without Childcare

Oakland’s voters who approved the March 1 increase of the minimum wage to $12.25 apparently drank the Kool-aid that it would “help the poor.” Tell that to the working poor parents who will now be scrambling to find good, affordable child care: Workers who benefit from Oakland’s minimum wage hike might soon lose a...
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What Makes a Miserable Country?

Venezuela is the world’s most miserable country, according to a team of researchers at Johns Hopkins University who have calculated a World Misery Index. “Misery” is measured as the sum of a country’s inflation rate, unemployment rate, and interest rate, minus the annual percentage change in real GDP per capita. The higher the total...
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The State of the Disunion

Top stories in world news last week: New Snowden Documents Reveal that the NSA is Preparing for Cyber War According to top secret documents from the archive of NSA whistleblower Edward Snowden seen exclusively by SPIEGEL, they are planning for wars of the future in which the Internet will play a critical role, with...
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Hillary’s Right About Jobs

Hillary Clinton’s recent exhortation “Don’t let anybody tell you that it’s corporations and businesses that create jobs,” has been drawing a lot of flack from conservatives, but it’s pretty much true these days. Back in the olden days, of course, businesses did create jobs. But now, not so much. Here are the number of...
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