Browsing All posts tagged under »unemployment«

What happens when politicians, conservatives and liberals get together to make economic policy? a recipe for economic catastrophe!

September 1, 2010 by


Written by Orphe P. Divounguy In May 2010, something really odd happened: our “great” allies from the other side of the pond decided on a coalition government between a Conservative party, usually the party associated with lower spending/taxes, and the Liberal-Democrats that promised anything but fiscal adjustments.  The Conservatives promised to cut government spending, and […]

The Job-killing impact of Minimum wage laws!

June 14, 2010 by


The effect of minimum wage laws should be clear even to the least versed in economic theory among us. Minimum wage laws are a mandatory increase in the cost of filling new positions. When the cost of filling a job opening exceeds the value from filling that position, assuming rational behavior, businesses will choose not […]

Breaking news (I’m not surprised!): May Jobs report is a disappointment!

June 4, 2010 by


President Obama and his Vice President are happy to report “job growth” for 5 months in a row!  Nonfarm payrolls up 431,000 in May but this number doesn’t paint the whole picture. Although unemployment is down by 0.2% from 9.9% to 9.7%, job Growth did not meet most economists expectations, but I can’t say that I am […]

Another reason why some US states have much higher unemployment rates than the national average: Nobel Prize Economist Milton Friedman on the minimum wage…

May 18, 2010 by


Chairman of the House Ways and Means Committee Sandy Levin (D-Mich) “flip flops”! America, Who’s looking out for you?

April 21, 2010 by


“House Ways and Means Chairman Sandy Levin (D-Mich.) on Monday said tax cuts benefiting the wealthy and enacted under President George W. Bush will expire at the end of the year…”  I thought this was the same congressman Levin who wanted to extend the Bush tax cuts because job creation was his priority!  At least that was what […]

Tough times in America: Who’s to blame?

April 8, 2010 by


By Orphe P. Divounguy According to the United States Department of Labor Bureau of Labor Statistics, 703,050 people are considered non-farm employees in the Washington DC area of which approximately 234,000 work in the public sector, 33.3% of the labor force.  Wages are the highest in the District of Columbia at $32.37 per hour, on […]

Economics 101: Why are good Americans dissatisfied with their standard of living?

April 7, 2010 by


Are Americans satisfied with their standard of living?  1998 Nobel Prize winning economist Amartya Sen defined standard of living as “functionings and capabilities”.1 I found a Gallup poll dating back to February 2010 that makes the claim that North Dakotans are in fact the most satisfied with their standard of living:   On a state-by-state basis, […]