chapter 8. unemployment and inflation link to syllabus
Post on 19-Dec-2015
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The US Unemployment Rate 1948-2011. Figure 8-1 p. 214.
Confirms – once again - that unemployment rises in recessions, declines in expansions.
Unemployment Rates of Different Socio-economic Groups, 2007. Figure 8-3 p. 217.
Groups who have higher unemployment are African Americans andTeens. Gender differences are small, and may favor women.
Figure 8.7 p. 221 Labor Market Flows/month 2007
mt views this as suggesting that the big action isn’t into unemployment,but is people dropping out of the labor force.
The Cost of Disinflation. Figure 8-12 p. 233.
Suggestion that in order to lower inflation, there must be higherunemployment.