“Unemployed?” “Jobless?” How About “Surplus Labor?” Taking the Stigma Out of Unemployment So unemployment remains stubbornly high at 7.3%. And the only reason it’s officially 7.3% vs. somewhere between 10% and 15% is because millions have stopped looking for work altogether. While people try to figure out how to improve the labor market — a...Read More
(Re-)Defining “Full Employment” “Jobless Filings at Highest Point Since November” –headline, The New York Times (8/19/10) One year ago, 90% of you were in the top 10% of your class. Today, 90% of you are in the bottom 90% of the your class.–Stanford Dean of Admissions Fred Hargadon, to the incoming class of ’82 (which...Read More
