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

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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

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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

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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

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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

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“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

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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

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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, […]