Discover and read the best of Twitter Threads about #HumbleFed
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Really superb.
Unemployment is 5.4% in the U.S.
could fall to 4% by year’s end.
#HumbleFed’s @neelkashkari has seriously thoughtful answers to main Q:
What definition of full employment is relevant in the early 21st century for monopol?
/2
Unemployment is 5.4% in the U.S.
could fall to 4% by year’s end.
#HumbleFed’s @neelkashkari has seriously thoughtful answers to main Q:
What definition of full employment is relevant in the early 21st century for monopol?
/2
One (of many) interesting issues: official UR (unemployment rate) is an average of many average unemployment rates of different demographic groups. One way to be sure labour market slack is falling is by seeing falling inequality between, say, Black and "official" UR.
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UR isn't the only/best indicator of labour market slack.
(Jesse Jackson, I think, used to say "There was full employment under slavery too.")
Quality of work is important.
So are LF participation rates. (UR drops if more people drop out of the labour force. #shecession)
/4
(Jesse Jackson, I think, used to say "There was full employment under slavery too.")
Quality of work is important.
So are LF participation rates. (UR drops if more people drop out of the labour force. #shecession)
/4
