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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
Washington Post 07.09.2014
A part-timer boom, or blip? - The Washington Post
Washington Post 07.16.2014
Stuck at Unemployed: When A Layoff Becomes a Lifestyle
Washington Post 06.06.2009
Job Market Shows New Gains, but Pace Eases
New York Times 08.01.2014
'Secular Stagnation' May Be for Real
Wall Street Journal 08.27.2014
Job Growth Rebounds, but Wages Lag
Wall Street Journal 10.04.2014
Labor-Market Dropouts Stay on the Sidelines
Wall Street Journal 12.29.2014
Jobs Report: U.S. Adds 252,000 Jobs; Unemployment Falls to 5.6%
Wall Street Journal 01.09.2015
Job Growth Fails to Help Paychecks of Workers
New York Times 01.09.2015
Hiring Booms, but Soft Wages Linger
Wall Street Journal 01.10.2015
Dear Fed, Please Be Late To the Rate-Raising Party
Wall Street Journal 01.12.2015
Americans Pocketing What They Save on Gas, Retail Data Suggests
New York Times 01.14.2015
Slow Rise in Consumer Prices May Stymie the Fed
New York Times 01.16.2015
Sluggish Productivity Hampers Wage Gains
Wall Street Journal 03.07.2015
After a Bounce, Wage Growth Slumps to 0.1%
New York Times 03.06.2015
The New Jobs Report Shows Janet Yellen’s Quandary in a Nutshell
New York Times 03.06.2015
U.S. Adds 223,000 Jobs in April; Jobless Rate Falls to 5.4%
Wall Street Journal 05.09.2015
Trump’s Tax Cuts in Hand, Companies Spend More on Themselves Than on Wages
The New York Times 02.26.2018
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