Category Archives: unemployment

The long hot summer recovery continues

I have been away from my blog and web site for  an extended period, last posting at the close of June. I will be resuming a more frequent schedule beginning next week. A heck of a lot has transpired both … Continue reading

Posted in austerity, business cycles, classical economics, deficit hysteria, fiscal policy, full employment, monetary policy, U.K. economy, Uncategorized, unemployment, urban culture | Tagged , , | Leave a comment

Markets always overreact to changing expectations: this time was no different

I have been away working on my research and publishing and nursing a very nasty summer cold these past few weeks . A lot has happened that needs to be noted. First let me pay tribute to the long and … Continue reading

Posted in austerity, business cycles, classical economics, deficit hysteria, European debt crisis, J.M.Keynes, quantitative easing, unemployment | Tagged , , , | Leave a comment

U.S unemployment rises slightly to 7.6% Canada falls slightly to 7.1%

The American economy created 175000 net new jobs in May as unemployment rose very slightly to 7.6%. The broad measure of unemployment U6 fell slightly to 13.8 % from 13.9% last month.In Canada employment rose by 95000 and the unemployment … Continue reading

Posted in austerity, Canada, U.S., Uncategorized, unemployment | Tagged , , | Leave a comment

European obsession with austerity and inefficient job search repeats error of the 1930s

There was discussion in the financial press today and yesterday about the fact that the EU has extended the deadline by which they expect countries like France, Spain and Italy to meet the 3% deficit to GDP targets which the … Continue reading

Posted in austerity, classical economics, deficit hysteria, European unemployment, France politics+economy, full employment, Greek sovereign debt crisis, quantitative easing, Spain, U.K. economy, Uncategorized, unemployment | Tagged , , | Leave a comment

Reinhart and Rogoff study based on flawed data:I pointed this out in 2010

It comes as no surprise to me that researchers at the University of Massachusetts at Amherst have published a study showing that the conclusions which Carmen Reinhart and Kenneth Rogoff drew about debt and economic growth were inappropriate and unjustified … Continue reading

Posted in business cycles, deficit hysteria, deficits and debt, Uncategorized, unemployment | Tagged , , | Leave a comment

Unemployment in Europe averages 12 % as of February 2013

The bitter fruits of austerity are on display in the latest unemployment report from Eurostat. Overall there are 26 million people out of work in Europe. unemployment averages 12 %. It is 10.8 % in France,7.7 % in the U.K., … Continue reading

Posted in austerity, business cycles, deficit hysteria, European debt crisis, European unemployment, fiscal policy, France politics+economy, monetary policy, Spain, U.K. economy, Uncategorized, unemployment | Tagged , , | Leave a comment

Robert Mundell, Columbia University economist criticizes overvalued euro which promotes unemployment and urges QE

Robert Mundell, a Nobel prize winning Canadian economist at Columbia University and a specialist on trade,exchange rates and currencies has wisely critiqued the European central bank for allowing an overvalued exchange rate on the euro which has harmed growth in … Continue reading

Posted in austerity, balance of payments, business cycles, classical economics, European debt crisis, European unemployment, free trade and globalization, full employment, quantitative easing, unemployment | Tagged , , , | 4 Comments