It’s actually a rather common thing to state that women are disproportionately affected by some issue – a quick Google search suggests those issues include AIDS, Climate Change, Freedom of Religion, Trade Sanctions, War, Poverty, Disease, Depression, Employment Competition, Conflict… well, and around 266,990 other things. Can women catch a break? Well, I found at least […]
Serious Thinkers™ in all corners of the web return to some common themes, even when those themes are currently out of the public spotlight. Recently, those Serious Thinkers™ have been reading between the lines on topics which the public has moved on from – the effect of the minimum wage on unemployment, and even more to the point, the effect of the minimum wage on specific segments of the population. And why shouldn’t they? The current official unemployment rate is 9.2%, but the official unemployment rate among those with a Bachelor’s Degree or higher is a relatively healthy 4.4%.
Sticky wages are more than a disgusting check you receive from your employer – employees are likely to not want to take a job for less money than one they worked previously. Sticky wages are one of the reasons that recessions can last a long time, sort of like the ‘Great Recession’ of the recent past. Even though the recession is officially over, high employment still exists, and a number of economic indicators still are at shaky levels. Anecdotally, there are many examples of people who took lower paying jobs in order to get back to work, however the official data shows that wages stayed flat or even rose, even throughout the recession.
Sorry it took a while to pick this one up, but here’s an interesting bit of data for your consumption: ‘Middle Educated’ workers, or those who list some college or degrees less than a bachelor’s degree, were unemployed at a higher rate in September than ever before in the 20-year history of the statistic. Yes, even more than last year when the overall unemployment rate was even higher.
Yes, the headline is true. As of two days ago, the (“Great”?) recession was declared over by the US National Bureau of Economic Research. The Bureau looks at lagging indicators of recessions, and therefore declared the end of the recession to be June 2009. With a start of December 2007, the recession lasted 18 months, becoming the longest recession of the post-World War II era. And yes, if the economy does decline into recession again, it will be considered a ‘double dip’ recession, the likes of which haven’t been seen since (according to NBER records, that is) the early 1980s!
The official U-3 unemployment rate is now 9.6%, up a tick from the 9.5% we saw last report. However, private employers added 67,000 jobs in August, while July’s numbers were revised upwards to 107,000 private sector positions and June numbers were also adjusted to 61,000.
Amid all of the talk about unemployment duration and the unemployment rate is a little known ratio, touched upon in this Wall Street Journal editorial. You’re curious, however – because the unemployment rate calculation has been messed around with quite a bit, how does it line up with the ratio? Lucky for you, I’ve got a graph here.
An interesting byproduct of the drive for male-female income equality in the workplace: the increase in the proportion of married couples in which a female earns more than the man. Not only are females earning more, in many cases, but they also are better educated than their male counterparts. The Pew Research Center gives us this interesting report on the new dynamics of married couples.