We Still Have an Employment Problem

So sayeth James Pethokoukis, and his argument is convincing. It may look as though unemployment is low, but that is only because those who are not actively searching for work, but would if their prospects were brighter, are not being counted, and underemployment (featuring those who are working part-time jobs, but who want full-time jobs) …

An Open Letter

TO: Thomas Piketty FROM: Pejman Yousefzadeh RE: Incurring Paul Krugman's Contempt Dear Professor Piketty: Congratulations on successfully positioning yourself so that you may be looked down upon by Paul Krugman until the end of time itself. Your ability to cause Professor Krugman to consider you to be less intellectually developed than your average paramecium--and make no mistake; …

Another Poor Jobs Report

Have I mentioned recently how truly tired I am of writing blog posts lamenting the bad employment situation?A surprising drop in hiring and in the number of people seeking work in August sent a reminder that the U.S. economic recovery is still prone to temporary slowdowns.Employers added just 142,000 jobs last month, well below the …

Responsibly Reforming the Welfare State

Today, James Pethokoukis tweeted this old blog post of his. I think that it is a good one: . . . while the recovery’s glacial pace, both in terms of GDP and jobs, is unacceptable, the safety net’s performance is encouraging. The pain from the Great Recession, as bad it was, would have been far worse …

The Economy Is a Disaster Case

So sayeth the UCLA Anderson Forecast.  It is hard to disagree with its findings, which are written in admirably candid fashion:The expected U.S. "Great Recovery" hasn't materialized and the economy has fallen short of even normal growth, according to a forecast released Wednesday.The second-quarter UCLA Anderson Forecast said the growth of real gross domestic product …