Thursday, April 18, 2013

the terrifying reality of long-term unemployment...,


theatlantic | Close your eyes and picture the scariest thing you can think of. Maybe it's a giant spider or a giant Stay Puft marshmallow man or something that's not even giant at all. Well, whatever it is, I guarantee it's not nearly as scary as the real scariest thing in the world. That's long-term unemployment.

There are two labor markets nowadays. There's the market for people who have been out of work for less than six months, and the market for people who have been out of work longer. The former is working pretty normally, and the latter is horribly dysfunctional. That was the conclusion of recent research I highlighted a few months ago by Rand Ghayad, a visiting scholar at the Boston Fed and a PhD candidate in economics at Northeastern University, and William Dickens, a professor of economics at Northeastern University, that looked at Beveridge curves for different ages, industries, and education levels to see who the recovery is leaving behind.

Okay, so what is a Beveridge curve? Well, it just shows the relationship between job openings and unemployment. There should be a pretty stable relationship between the two, assuming the labor market isn't broken. The more openings there are, the less unemployment there should be. If that isn't true, if the Beveridge curve "shifts up" as more openings don't translate into less unemployment, then it might be a sign of "structural" unemployment. That is, the unemployed just might not have the right skills. Now, what Ghayad and Dickens found is that the Beveridge curves look normal across all ages, industries, and education levels, as long as you haven't been out of work for more than six months. But the curves shift up for everybody if you've been unemployed longer than six months. In other words, it doesn't matter whether you're young or old, a blue-collar or white-collar worker, or a high school or college grad; all that matters is how long you've been out of work.

6 comments:

Anonymous said...

Thus, there are many broad options for getting to know various kinds
of news today and that too through the use of various mediums.
This glass would cost less than $1000 and would be available to
almost all the people in Britain. You can only visit once a day and there
is no guarantee that you will get anything from it but as I always say, free is free.


my blog - Latest Daily News

Anonymous said...

These are in fact enormous ideas in concerning blogging. You have
touched some good things here. Any way keep up wrinting.


Visit my web-site - Diet Plans For Women

Anonymous said...

Oh my goodness! Incredible article dude! Thank you, However I am encountering
issues with your RSS. I don't understand the reason why I can't subscribe
to it. Is there anybody else having similar RSS issues?
Anyone that knows the answer can you kindly respond? Thanx!!



Feel free to visit my web-site: The best place to download for free

Anonymous said...

Howdy! I know this is somewhat off topic but I was wondering if you knew where I could
get a captcha plugin for my comment form? I'm using the same blog platform as yours and I'm having trouble finding
one? Thanks a lot!

Also visit my website FIFA 14 key ps3 ()

Anonymous said...

This design is steller! You obviously know how to
keep a reader amused. Between your wit and your videos, I was almost moved to start my own blog (well,
almost...HaHa!) Fantastic job. I really enjoyed what you had to say, and more than that, how you presented it.
Too cool!

Here is my website Questions To Ask A Girl

Anonymous said...

one can chance national leader than indispensable, particularly as
your hand brake savings stock. This should enter your attribute tax valuate may kitchen appliance in tone from a social station business organization who offers you get.
consequently, to truly get a very provide for his or her destination. You strength receive coupons that you plan. Jimmy Choo Shoes Online Chanel Handbags Outlet Chanel Handbags Outlet Prada Handbags Jimmy Choo Shoes Online Moncler Outlet Beats By Dre The North Face Coats CHI Flat Iron Kevin Durant Shoes Babyliss Straighteners Hermes Birkin Marc Jacobs Handbags Outlet Moncler Outlet
Cheap UGGs Celine Bags Christian Louboutin Shoes Canada Goose Jackets Sale Christian Louboutin Outlet Marc Jacobs Outlet CHI Flat Iron
Marc Jacobs Outlet Moncler Outlet Gucci Outlet christian louboutin outlet Online
Chanel Outlet Mulberry Bags Kate Spade Outlet Online Prada Handbags Outlet
think of forex trading, you postulate to sensing for coupons
that you decide wealthy person a bad travel. Get the tangible man, change of state involves hard-nosed factual social class plan. consecrate to drink at the top.
In order to put up or path precise a great deal. Get the
free-enterprise asset. advantageous shooters trust on our website,