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Job Market Shows New Gains, but Pace Eases
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Labor Department reports U.S. created 209,000 jobs in July 2014. The unemployment rate goes up slightly to 6.2%. Wages went up only by a penny and remain only 2% higher than a year ago. Retail was up by 27,000 jobs, manufacturing by 28,000 in July. Economists say the steep drop in the unemployment rate to 6.2% does not reflect the true conditions in the labor market, as the labor force participation rate is at 62.9%. One economist called this disturbing as some of the youngest workers are dropping out of the labor force. The Alliance for American Manufacuring pointed out that the U.S. manufacturing sector has recovered only about 30% of jobs lost during the recession following the 2009 financial crisis. It said the the lack of investment in infrastructure, high trade deficits and currency manipulation by China and Japan, remain obstacles for American manufacturing's resurgence.
Unemployment in the U.S. for 3rd quarter 2014
08/01/2014
Grouped Articles
Job Market Shows New Gains, but Pace Eases
New York Times 08/01/2014
Hiring Settles Into Steady Gains
Wall Street Journal 08/02/2014
Job Growth Rebounds, but Wages Lag
Wall Street Journal 10/04/2014
Recipients of Jobless Benefits Down Sharply
Wall Street Journal 12/26/2014
Declining U.S. Labor Force Participation Rate for 2010-2016 and its implications for unemployment and economic growth
06/06/2009
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Job Growth Eases Fears About Effect of Closing
New York Times 11/08/2013
Candid Criticism for Fed That Wasnât on the Agenda
New York Times 11/08/2013
Confronting Old Problem May Require a New Deal
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More Men in Prime Working Ages Don't Have Jobs
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New York Times 04/05/2012
Takeaways From the Monthly Jobs Report
Wall Street Journal 04/05/2014
Why high unemployment and the high percentage of the long term unemployed is determining U.S. Federal Reserve interest rate policy in 2012-2014
01/27/2009
With 40% of the unemployed in the U.S. shown as long term unemployed, mismatch in skills and other structural problems with unemployment, the U.S. Federal Reserve policies of Fed chairman Bernanke are geared to addressing this problem.
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Stimulus and the Depression: The Untold Story
Wall Street Journal 09/26/2011
Fed Officials Try to Set the Market at Ease
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FX HORIZONS: The Fed’s Risky Codependency with Markets
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Economy May Be Getting Its Wings Clipped
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Fragility of social cohesion in the U.S. with unemployment concentrated in the lower middle and working classes.
03/11/2009
Figures from the Center of Labor Market Studies of Northeastern University in Boston showing unemployment of 9% in the $40,000 to $50,000 annual household income group and going up to 31% at the lowest income group. Higher inequality as differences in education between lower income and higher income Americans grows. The problem of the long term unemployed is a serious one.
Grouped Articles
Wall Street Journal 09/14/2011
Japan Is a Model Not a Cautionary Tale
New York Times 06/09/2013
New York Times 06/22/2013
OECD report cites rising income inequality - The Washington Post
Washington Post 12/06/2011
U.S. Schools Chief Arne Duncan Labors to Straddle Political Divide
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Blanchflower and Posen call for the U.S. Federal Reserve to use wage growth as the best indicator of unemployment, after the misleading 288,000 jobs report of April 2014
06/06/2009
A renewed focus on the partcipation rate as the unemployment rate declines to 6.3% in April 2014. As this only counts people looking for work and many Americans have dropped out of the labor market because jobs they seek do not exist, the unemployment rate in this situation is misleading. Blanchford and Posen have written a paper on this and say the flat wage rate in March and April 2014 with no improvement in the participation rate provides a true picture of the large slack in the economy.
Grouped Articles
In Tepid Wage Growth, a Potent Sign of a Still-Fragile Economy
New York Times 05/05/2014
Wall Street Journal 05/05/2014
Little Agreement on Reasons for Declining Labor-Force Participation
Wall Street Journal 05/05/2014
Positive Jobs Report Shows Economic Fault Lines
Wall Street Journal 05/05/2014
Jobs Data May Be Icing on America's Birthday Cake
Wall Street Journal 07/03/2014
Hiring Is Strong and Jobless Rate Declines to 6.1%
New York Times 07/03/2014
U.S. Federal Reserve chairwoman Janet Yellen's thinking on unemployment and expected Fed policy in 2014-2015
01/23/2014
Grouped Articles
Don’t Expect Job Data Alone to Persuade Fed on Rates
New York Times 01/23/2014
A Fed Policy Maker, Changing His Mind, Urges More Stimulus
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More Men in Prime Working Ages Don't Have Jobs
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Wall Street Journal 02/08/2014
Fed's Yellen Sets Course for Steady Bond-Buy Cuts
Wall Street Journal 02/12/2014
The nature of unemployment in this U.S. downturn as men, young people and the less educated are the worst hit groups.
03/11/2009
In this US downturn men are hit harder than women with job losses in manufacturing and construction, the less educated hit hardest, and young people also hit hard.
Grouped Articles
New York Times 06/22/2013
Wanted: Jobs for the New 'Lost' Generation
Wall Street Journal 09/14/2013
Women Reach a Milestone in Job Market
Wall Street Journal 11/18/2013
Andy Grove: How America Can Create Jobs
BusinessWeek 07/01/2010
Wall Street Journal 10/02/2010
More Men in Prime Working Ages Don't Have Jobs
Wall Street Journal 02/06/2014
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