Wednesday, February 17, 2010

Unemployment, Mean Duration of Unemployment and Labor Force Participation






The loss of economic production due to idle labor is astounding. I am particularly shocked with the mean duration of unemployment.

4 comments:

Anonymous said...

lousy Europeans.

Liberista said...

come on? BHO says things are going great, just saw him on italian TV, 2 million jobs "created" :D

Anonymous said...

The charts don't lie, but the politicians claiming recovery is under way certainly do.

PBHO claims 2 million jobs created - he's right... he just hides the fact that they were created in China, India, Vietnam, Brazil and Russia.

Anonymous said...

The duration of unemployment is likely related to such things as extended unemployment benefits. A great deal of effort is expended to make unemployment less unpleasant. If too successful they form a disincentive to take jobs which might be worse than the one recently lost. There have been historical times when an unemployed professional might seriously face the specter of a crap job flipping burgers. With ever increasing "protections" during a period of unemployment, an individual can hold out for a longer period of time hoping for the better job which they "deserve".