The surprising public health benefit of unemployment

[ad_1] Here’s a discovery to bring you up short: unemployment is good for you. Really? Well, no, not really. But a new research paper has found a correlation that points in that direction: more unemployment, fewer deaths. Underneath lies something real, shocking and yet somehow inspiring. First, let’s unpack the research, conducted by economists Amy … Read more

Is the Natural Rate of Unemployment Turning Higher?

[ad_1] In California, the minimum wage has risen to $16.00, vs. $7.25 in Texas.  Even adjusting for differences in the cost of living, the rate in California is much higher.  Of course most workers earn more than the minimum wage, but I suspect that union wages are also higher in California.  For instance, consider this … Read more

If Not Unemployment, How To Measure the Labor Market?

[ad_1] Economic statistics are all useful, and all imperfect. They must be consumed with care. Consider the unemployment rate, a headline indicator of the US labor market. The US unemployment rate has been below 4% since December 2021. As you can see from the graph, which shows the unemployment rate going back to 1948, there … Read more