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We are watching industries crumble, Wall Street firms disappear, unemployment spike, and unprecedented government intervention. And our designated opinion leaders want to know: Is Obama up this week? Is he down? And is his leadership style more like Bill Clinton's, or Abraham Lincoln's?
Keynes tried to show that market economies could settle in equilibrium states in which the labour market did not clear, and in which the level of unemployment was high. He believed that this was due to a particular example of market failure, developed in his concept of effective demand.
Even when America's economy has been by all measures healthy and the unemployment rate low, some businesses suffer or fail and lay off workers. But nearly always, a simultaneous and even greater burst of new jobs has been created to offset the jobs lost - millions of new jobs every year.
High mandated minimum wages will throw people out of work and onto the welfare rolls in cases where unemployment benefits exist. When it comes to welfare payments, they obey the laws of economics, too. Indeed, if something - like unemployment - is subsidized, more of it will be produced.
Big ideas, big ambitious projects need to be embedded within culture at a level deeper than the political winds. It needs to be deeper than the economic fluctuations that could turn people against an expensive project because they're on an unemployment line and can't feed their families.
Census data influences decisions made from Main Street to Wall Street, in Congress and with the Federal Reserve. Not to mention, the American people who look to, and trust, the data the government releases on our nation's unemployment, state of our economy, and health insurance coverage.
You won't be exiled to permanent unemployment just because there's a picture somewhere of you holding a red Solo cup and looking underage. But, your Google results tell a story: Have you been in the news? Authored articles or blog posts? What types of topics do you frequently tweet about?
We shouldn't think of family leave as an elite benefit, only available at some companies. Everyone in Maine, whether they have a child or are caring for a sick family member, should have access to this same benefit. It should be like unemployment insurance, there for you when you need it.
To a generation beaten down by skyrocketing unemployment, plunging retirement savings, and mounting home foreclosures, 'Mad Men' offers the schadenfreude-filled message that their predecessors were equally unhappy - and that the bleakness meter in American life has always been set on high.
At Cisco, we believe everyone has the potential to become a global problem solver. We strive to inspire, connect, and invest in opportunities that accelerate global problem solving by empowering people everywhere to work toward eradicating poverty, unemployment, climate change, and hunger.
That it is not same-gender relationships that are destroying marriage. What is actually destroying marriage is high unemployment, incarceration, a lack of education and ministers living in contradiction where they speak about holiness on one side but yet are living in adultery on the other.
America should meet its obligations in the form of Social Security, Medicare, our ability to pay our military, legally binding legislation that allows unemployment compensation, the judiciary, the federal court system, the federal prison system, all those kinds of things have to be paid for.
The long-range sloution to high unemployment is to increase the incentive for ordinary people to save, invest, work, and employ others. We make it costly for employers to employ people; we subsidize people not to go to work We have a system that increasingly taxes work and subsidizes nonwork.
Unprecedented technological capabilities combined with unlimited human creativity have given us tremendous power to take on intractable problems like poverty, unemployment, disease, and environmental degradation. Our challenge is to translate this extraordinary potential into meaningful change.
The basic idea that if you increase government spending or you cut people's taxes that stimulates the economy and lowers the unemployment rate, is a very widely accepted idea. It's in every economics textbook, that's what we teach our undergraduates, and I certainly try to teach them the truth.
If you got problems like unemployment, Social Security, Medicaid, Medicare and there's a guy that's always been there for you and for your family, then you say 'He's a nice guy. I don't know where he came from or how long he's been here, but Charlie Rangel's the man.' That's what I'm relying on.
What the mayors care about is, 'How can I get money to invest in the infrastructure in my city? How do we put people back to work, lower the unemployment rate, provide for job training programs? How do we make class sizes smaller and make investments in our children from an education standpoint?'
Sometimes I even now feel like a stranger in my country. But I knew there would be problems because I had seen the world as a skater. And now? A lot of people in eastern Germany have lost jobs, rents went up, food costs went up, unemployment went to 20 percent. Freedom is good, but it is not easy.
You're always as good as your last movie and that's the same with politics. If you are successful with a certain policy, then you're hot; if you're successful with the economy, or bringing down the unemployment rate, then you're hot. But if you're not successful, then things go south very quickly.
As Eric Weitz argues, the Weimar Republic (1919-1933) was not responsible for the Reich; it was a democratic, socially aware and progressive government, way ahead of many other European governments in its introduction of workers' rights, public housing, unemployment benefit and suffrage for women.
Free migration within Europe means that countries that have done a better job at reducing unemployment will predictably end up with more than their fair share of refugees. Workers in these countries bear the cost in depressed wages and higher unemployment, while employers benefit from cheaper labor.
In the industrial world we have the problem of having more productive capacity than we know what to do with. That's at the root of the unemployment crisis: we've got so productive at making things, we don't require people to be involved in making the basics of life any more. Or nearly as many people.
Three years ago, this week, a newly elected President Obama faced the American people and he said, look, if I can't turn this economy around in three years, I'll be looking at a one-term proposition, and we're here to collect! You know the results. It's been 35 months of unemployment above 8 percent.
This much I would say: Socialism has failed all over the world. In the eighties, I would hear every day that there is no inflation in the Soviet Union, there is no poverty in the Soviet Union, there is no unemployment in the Soviet Union. And now we find that, due to Socialism, there is no Soviet Union!
Sometimes, tax rate increases create the very problems that the spending is intended to cure. In other words, the tax rate increases reduce economic growth; they shrink the pie; they cause more poverty, more despair, more unemployment, which are all things government is trying to alleviate with spending.
My friends have noticed that if I suddenly go through a couple of months' unemployment, there seems to be a correlation that I don't ever tend to wear the same outfit twice. There will be such strange combinations of clothes because I'm probably a bit creatively stifled, so it's coming out in my wardrobe.
This is the first generation to grow up on Thatcher - it's a different ethos. It's money minded, and it's the cult of yourself. Now that's fine, except when it falls down, and you can't achieve your goals - through high unemployment, through the fact that you probably need inherited money to get anywhere.
The economy is terrible it's been terrible for years now, and the reason it's bad is not because of a debt-ceiling vote. The reason it's bad is because we have people who believe that by making government bigger by keeping people on unemployment checks and on welfare we're going to dig us out of this mess.
We are in a bit of a policy box and it's going to require us being willing to give up one of the two, which is it's okay to take on more deficits but lets put in some massive spending. Alternatively to say, 'we're going to go through structural unemployment for a while because we want to address deficits.'
Why do we need to support the food stamp program? Because low-income families experience unemployment at a far higher rate than other income groups. Because cutting nutritional assistance programs is immoral and shortsighted, and protecting families from hunger improves their health and educational outcomes.
All those predictions about how much economic growth will be created by this, all of those new jobs, would be created by the things we wanted - the extension of unemployment insurance and middle class tax cuts. An estate tax for millionaires adds exactly zero jobs. A tax cut for billionaires - virtually none.
Firms don't just try to pay as little as possible to get the needed bodies on board; when there is unemployment, they ask themselves how wage cuts would affect the behavior of the employees. Would they quit or feel dissatisfied and work less hard on the firm's behalf if they feel that wage policies are unfair?
I'm not yet convinced that we will face an unemployment problem created by AI. There will certainly be some occupations eliminated - drivers of vehicles, many production jobs, etc. Whether this creates mass unemployment depends on how quickly this happens. If it happens overnight, it will be a huge disruption.
In American history, it's about hard work and self-reliance. It's not about collecting giveaways or being on unemployment forever. That the economy moves ahead for people who are going to work to realize the American dream, own a home, send your kids to college. I think it's the founding cornerstone of America.
Education is the key to the future: You've heard it a million times, and it's not wrong. Educated people have higher wages and lower unemployment rates, and better-educated countries grow faster and innovate more than other countries. But going to college is not enough. You also have to study the right subjects.
The workers who harvest our food have been systematically denied the basic rights that are granted to all other American workers. They can be fired for trying to form a union or for attempting to improve their working conditions. They are not eligible for overtime pay, disability, or even unemployment insurance.
We know that to compete for the jobs of the 21st century and thrive in a global economy, we need a growing, skilled and educated workforce, particularly in the areas of science, technology, engineering and math. Americans with bachelor's degrees have half the unemployment rate of those with a high school degree.
If every other store in town is paying workers $9 an hour, one offering $8 will find it hard to hire anyone - perhaps not when unemployment is high, but certainly in normal times. Robust competition is a powerful force helping to ensure that workers are paid what they contribute to their employers' bottom lines.
Let me just try to give you sort of the intuitive one here on the stimulus funds. If you have a two-person economy - let's imagine we have two farms, and that's the whole world, just two farms. If one of those farmers gets unemployment benefits, who do you think pays for him? Am I going way over your heads today?
Unlike side issues like unemployment, unions, and minimum-wage laws, the subject of work itself is almost entirely absent from libertarian literature. Most of what little there is consists of Randite rantings against parasites, barely distinguishable from the invective inflicted on dissidents by the Soviet press.
I was in the U.K. and Germany and went to Volkswagen and learned about their apprenticeship model - young people become paid apprentices in trades. It's not a coincidence that youth unemployment is far lower in Germany than the United States because there are paid opportunities for young people to get experience.
Because tax cuts create an incentive to increase output, employment, and production, they also help balance the budget by reducing means-tested government expenditures. A faster-growing economy means lower unemployment and higher incomes, resulting in reduced unemployment benefits and other social welfare programs.
Minimum wage laws tragically generate unemployment, especially so among the poorest and least skilled or educated workers... Because a minimum wage, of course, does not guarantee any worker's employment; it only prohibits, by force of law, anyone from being hired at the wage which would pay his employer to hire him.
I moved right to L.A., and I had a year of active unemployment. I had 50-something auditions for 50-something different projects, testing and doing callbacks, and could not get hired. And then, almost a year to the day of being out in L.A., I booked my first job, and then I started booking something every other month.
In a fair society, the solution to unemployment is not to force people into workfare programmes which do little more than supply big companies with free labour. It's to create jobs that pay a living wage, for example, by investing in new sustainable infrastructure projects and boosting the jobs-rich low carbon economy.
By 2018, automation is going to be in full swing in the United States and around the world. There are estimates that it could replace 50 percent of our jobs. That is an enormous shift. But even if we go through a phase where we have an unemployment valley from automation, there will be new jobs and new things for us to do.
I could have easily been a statistic. Growing up in Brooklyn, N.Y., it was easy - a little too easy - to get into trouble. Surrounded by poor schools, lack of resources, high unemployment rates, poverty, gangs and more, I watched as many of my peers fell victim to a vicious cycle of diminished opportunities and imprisonment.
Mr. Trump's fiscal policies have produced more growth than Mr. Obama's because they were designed to incentivize businesses to invest, hire, and produce more here at home. The Obama 'stimulus,' by contrast, went for food stamps, unemployment benefits, ObamaCare subsidies, 'cash for clunkers' and failed green energy handouts.
You would think that if any group in America had 20% to 25% unemployment, it would generate all kinds of attention. The Labor Department would understandably and necessarily begin to concentrate on what can we do to reduce this level of unemployment. Congress would give great time on the floor for debate on what can be done.
I did a show called 'Freaks and Geeks' when I was very young. And I had the naivete and arrogance of youth. You know, I really assumed that when the show got cancelled, like, oh, it doesn't matter, you just keep rolling, you know. I'm about to be the biggest star of the world. And then I was met with five years of unemployment.