Skip to main content

Jason Welker's Library tagged unemployment →  View Popular

10 Nov 09

Life on Severance: Comfort, Then Crisis - WSJ.com

Things are scary out there for the unemployed in America! This article tells some sad stories of opportunities lost and next eggs blown! It also illustrates a key concept from AP and IB Economics: the theory of sticky wages and prices, at the heart of Keynesian macroeconomics. 

online.wsj.com/...SB125780714976639687.html - Preview

keynesianism wages recession sticky wages unemployment

  • The family recently vacationed in Virginia Beach, Va., and likes to dine on Porterhouse steaks. Since losing his job, Mr. Joegriner, 44 years old, has had several offers. He's turned each down in hopes of landing a position comparable to what he held before.
    • Unemployed Americans unwilling to accept lower wage jobs! This sounds like evidence of the "sticky wages" Keynesian observed in his arguments for fiscal stimulus! - on 2009-11-10
    Add Sticky Note
  • Mr. Joegriner is a member of what might be called the severance economy -- unemployed Americans who use severance pay and savings to maintain their lifestyles. Many lost their jobs in 2007 and 2008, and thought they'd soon find work. Now, they're getting desperate.
    • I bet these people just wish they had taken that good offer a year ago. Finance people laid off during this recession must have an artificially inflated view of their own value in the labor market: over-inflated like the assets they had dealt in! - on 2009-11-10
    Add Sticky Note
  • 4 more annotations...
05 May 08

BBC NEWS | Business | US jobs data ease economy fears

Things aren't looking as bad for the US economy this month. Employment, down 80,000 jobs in March, only fell by 20,000 jobs in April, not as bad as expected. This may mean the US is already on the upswing in its business cycle.

news.bbc.co.uk/...7380263.stm - Preview

recession unemployment business cycle economics

01 May 08

Bush says pain from economy defies easy fix - International Herald Tribune

Bush reflects on the waning US economy... surprisingly he
opposes McCain and Clinton's proposed gas tax holiday, also thinks it's
time to start drilling in ANWAR to help bring down energy prices.

www.iht.com/...30bush.php - Preview

economy recession Bush energy prices unemployment politics

1 - 3 of 3
Showing 20▼ items per page

Selected Tags

Related Tags

Highlighter, Sticky notes, Tagging, Groups and Network: integrated suite dramatically boosting research productivity. Learn more »

Join Diigo