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Haydn W

Rules on unemployment benefits tightened to end 'signing on' culture | Politics | The G... - 2 views

www.theguardian.com/...nt-benefits-signing-on-culture

Unemployment UK The Guardian Jobs

shared by Haydn W on 13 Apr 14 - No Cached
  • Rules on unemployment benefits tightened to end 'signing on' culture
  • Jobless will have to take 'basic steps' towards finding work before they can claim, as part of government push on welfare
  • The government is to hail the end of the "signing on" culture when it announces that unemployed people will have to take "basic steps" towards finding work before they can claim benefits.
  • ...4 more annotations...
  • the employment minister, will launch a significant government push on welfare this week by saying that unemployed people must prepare for their first interview with a Jobcentre Plus adviser by preparing a CV.
  • McVey will highlight tough new rules for newly unemployed people. She will say: "With the economy growing, unemployment falling and record numbers of people in work, now is the time to start expecting more of people if they want to claim benefits.
  • "This is about treating people like adults and setting out clearly what is expected of them so they can hit the ground running.
  • In return, we will give people as much help and support as possible to move off benefits and into work because we know from employers that it's the people who are prepared and enthusiastic who are most likely to get the job.
  • Haydn W on 13 Apr 14
     
    This new policy, outlined from the UK government's recent budget announcement aims to get young people out of the so called welfare culture and into employment. From around the end of the Second World War there has been a rapid increase in people leaving education and signing onto unemployment benefits. With these tougher measures the government hopes to prepare these people for work and curb the relative 7 - 8% unemployment rate. However the government has faced severe criticism, notably for their lack of efforts to get university graduates into jobs since raising university fees here from £3000 per year to £9000 when they came to power in 2010.
John B

Long-term unemployment: What the U.S. can learn from Sweden - The Term Sheet: Fortune's... - 1 views

finance.fortune.cnn.com/...-long-term-unemployment-sweden

unemployment

shared by John B on 14 Apr 14 - No Cached
  • less than 10% of Americans who were unemployed had been so for more than 27 weeks. Now, 35.8% of unemployed Americans fit into this category.
  • Long-term unemployment is a particularly pernicious problem because of its compounding nature -- long stretches of unemployment erode workers' skills, while employers have an irrational bias against the long-term unemployed.
  • Take Sweden
  • ...6 more annotations...
  • these workers find it harder and harder to find a job.
  • One 2007 study showed that out of six different Swedish programs, whose purposes ranged from worker retraining, helping workers maintain contact with former colleagues, temporary government employment, and employment subsidies, only the latter was effective at bringing down long-term unemployment.
  • A wage subsidy is a program where the government pays part of a worker's check, thus raising the worker's income and inducing firms to hire more workers.
  • Wage subsidies aren't just a potential solution to the debate over the minimum wage. They could also help bring down U.S long-term unemployment as well.
  • Wage subsidies haven't taken off in the U.S., primarily for political reasons.
  • The experience in Sweden shows that this policy can help the long-term unemployed find gainful employment.
  • John B on 14 Apr 14
     
    This article deals with the long-term unemployment issue in the US that have been rising a lot since 2002. One solution to this is to follow one of the Swedish programs, wage subsidies. This have given great results and might be a good solution to the problem in the US as well.
Yassine G

Unemployment Claims Decline to Nearly a 7-Year Low - NYTimes.com - 0 views

www.nytimes.com/...ne-to-nearly-a-7-year-low.html

unemployment decline low nytimes com government

shared by Yassine G on 13 Apr 14 - No Cached
  • Yassine G on 13 Apr 14
     
    This article talks about how unemployment is decreasing and what are the causes. We saw that there was a seasonal unemployment and that the government's intervention was helpful as it created new jobs 
Haydn W

Inflation Forecast 2014-2014: Continued Mild Price Increases - 1 views

www.forbes.com/...continued-mild-price-increases

Forbes Inflation Unemployment Phillips Curve Trade-off

shared by Haydn W on 03 May 14 - No Cached
  • Inflation is likely to remain mild in the next two years, but first a caution: none of the inflation forecasting models is doing a good job these days.
  • the Phillips Curve was our primary way of looking at inflation. William Phillips found an inverse relationship between inflation and unemployment over the period 1861-1957. This simple approach was used here in the United States in the 1960s and 70s.
  • With lower unemployment you would expect greater inflation. However, the Phillips Curve does not explain why inflation didn’t go down much when our unemployment rate was high a few years ago.
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  • Milton Friedman said “Inflation is always and everywhere a monetary phenomenon . . . .” The relationship was solid for a long time, though financial changes in the 1990s made the theory harder to apply.
  • Unfortunately, the expectations-augmented Phillips Curve has not worked well in recent years. One study found that the predicted inflation for 2010 was negative 4.3 percent, while actual inflation was still positive.
  • Different theories tell us that the actual dynamics by which inflation changes are influenced not only by unemployment but also by inflation expectations.
  • Two different money concepts have been used, the money supply (such as the M2 definition) and the monetary base Recent data for both concepts indicate that inflation should have been much higher in recent years. The fact that inflation has accelerated very little suggests that in the current environment, the money-inflation connection is not very tight.
  • Haydn W on 03 May 14
     
    This article from Forbes is primarily titled to be a forecast about inflation in the coming fiscal year but it also interestingly (and relevant to our studies) discusses the different arguments and criticism surrounding the modelled Phillips Curve. The article also contains an interesting graph that is based on recorded statistics about inflation and unemployment which helps to demonstrate the problems with the Phillips Curve model. 
Yassine G

Yellen: Unemployment and Inflation Still Short of Fed's Goals - MarketPulse - 1 views

www.marketpulse.com/...flation-still-short-feds-goals

inflation unemployment fed goals monetary

shared by Yassine G on 10 May 14 - No Cached
  • Yassine G on 10 May 14
     
    This article talks about the inflation and unemployment rates in the United States. According to the Federal Reserve Chair, the economy is still unstable as unemployment rates exceed the Fed's goals, while inflation rates need a boost to achieve the target of 2%. The article suggests that monetary policies are going to be used in order to achieve the macroeconomics target of the USA. 
Amanda Anna G

Why extending unemployment benefits could be a logistical nightmare - 1 views

www.washingtonpost.com/...ould-be-a-logistical-nightmare

unemployment

shared by Amanda Anna G on 09 Apr 14 - No Cached
  • Why extending unemployment benefits could be a logistical nightmare
  • But the state agencies responsible for administering the benefits say actually helping that population could prove to be logistically difficult.
  • "With unemployed Americans continuing to struggle, it’s our responsibility to provide them a lifeline," Perez said in an e-mail to The Post. "I’ve spoken to many governors and state labor secretaries who are ready to implement any changes -- because they understand that whatever administrative burden they might face pales in comparison to the burdens confronting the long-term unemployed. The workforce system is capable of handling this task."
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  • . A few states have even warned that implementation could be so unwieldy that they may opt out of Labor Department program that provides the benefit to workers.
  • Hiring and training new employees to handle retroactive benefits would also draw out the timeline for implementation.
  • Amanda Anna G on 09 Apr 14
     
    This article is about the unemployment and the negative sides of the unemployment benefits. "Whatever administrative burden they might face pales in comparison to the burdens confronting the long-term unemployed."
Marenne M

Wages beat inflation as unemployment falls below 7% | Economy | The Guardian - 0 views

www.theguardian.com/...ployment-falls-below-7-percent

trade-off

shared by Marenne M on 11 May 14 - No Cached
  • Marenne M on 11 May 14
     
    This article describes how the trade-off in Britain between unemployment and inflation is improving. It states how finally after several years, the rate of increase in wages is larger than the increase in the rate of inflation, causing a greater demand for work, and decreasing unemployment.
John B

Jobs at a Turning Point - NYTimes.com - 0 views

www.nytimes.com/...jobs-at-a-turning-point.html

macroeconomic activity

shared by John B on 09 Mar 14 - No Cached
  • the employment report for February was a relief. The news that the economy added 175,000 jobs last month was better than anticipated, and much better than the dismal reports in December and January.
  • John B on 09 Mar 14
     
    This article is talking about how the unemployment has gone down. Even decreased more than expected. It also discuss how the parties have been thinking about the unemployment in the US.
Aleksi B

Spain unemployment to take 10 years to recover - report - RT Business - 1 views

rt.com/...employment-decade-recovery-684

spain unemployment

shared by Aleksi B on 15 Apr 14 - No Cached
  • Aleksi B on 15 Apr 14
     
    In this article stated that Spain's largest bank made a claim saying the unemployment will take over a decade just to fix. Spain are in a large amount of debt as they rose from last year and the Spanish research and development spending is 70% below the EU level
Marenne M

Youth unemployment: Generation Jobless at risk of becoming reality - 3 views

www.smh.com.au/...ng-reality-20140414-zquf3.html

unemployment

shared by Marenne M on 14 Apr 14 - No Cached
  • Marenne M on 14 Apr 14
     
    This article describes the unemployment among youths in Australia. It describes how no matter whether you have a degree or not, it is barely possible to find a job. This is due to a lack in demand for labor, which generally results from a lack of aggregate demand, meaning that the economy isn't operating at its full potential. Therefore there is a surplus of supply for a minimal demand of labor, leading to a decrease in wage cost and a decrease in chances of finding a job. This is why many people are recommending doing internships for free, because firms are no longer paying as much for the employees, but even these internships are hard to get.
Zuzanna G

Supply, Demand and Unemployment benefits - 2 views

krugman.blogs.nytimes.com/...mand-and-unemployment-benefits

unemployment

shared by Zuzanna G on 15 Apr 14 - No Cached
  • Zuzanna G on 15 Apr 14
     
    This article deals with the effect of unemployment benefits on the unemployment rate.
Clemente F

Would 'Very High Taxes' Keep Unemployment Rates Low? - 0 views

www.forbes.com/...es-keep-unemployment-rates-low

tax

shared by Clemente F on 12 Nov 13 - No Cached
  • Clemente F on 12 Nov 13
     
    This article discusses the fact that whether high taxes may keep unemployment rates low or not. It relates to what we studied because we discussed the effects of Taxes and unemployment is one.
Mariam P

Australia's unemployment rate fell to 5.8% in March from February's 6.1% - 1 views

www.theguardian.com/...-58-in-march-from-februarys-61

unemployment

shared by Mariam P on 11 Apr 14 - No Cached
  • Mariam P on 11 Apr 14
     
    This article is about the unemployment rate in Australia. It shows different opinions from different experts in the country.
Clemente F

Italy agrees measures to tackle youth unemployment - 2 views

www.theguardian.com/...italy-youth-unemployment

unemployment

shared by Clemente F on 21 Apr 14 - No Cached
  • Clemente F on 21 Apr 14
     
    This article discusses unemployment in Italy and how it could be tackled.
Daniel B

long- and short-term unemployment have similar inflation impact - 3 views

blogs.wsj.com/...lar-inflation-impact-fed-paper

trade-off

shared by Daniel B on 04 May 14 - No Cached
  • Zuzanna G on 04 May 14
     
    This article deals with the long- and short term unemployment and their impact on inflation. Federal Reserve's paper gives doubts whether there is any difference between them. Worth looking through!
Yassine G

Portland mayoral candidates disagree a bit - 1 views

www.tennessean.com/...16506111

Supply-Side government infrastructure growth unemployment leaders elections

shared by Yassine G on 01 Oct 14 - No Cached
  • Yassine G on 01 Oct 14
     
    This article highlights the objectives of candidates who are running to be mayor of the city of Portland. They discuss what their vision is and how they could reach it. Some of their goals is improving infrastructure which is an interventionist supply side policy. The article also highlights some macro economic objectives such as growth and lower unemployment 
Haydn W

South Africa at 20: Storms behind the rainbow - Opinion - Al Jazeera English - 1 views

www.aljazeera.com/...-behi-2014320155339545752.html

Aggregate Supply South Africa GDP Mandela

shared by Haydn W on 30 Mar 14 - No Cached
  • April 27 marks the 20th anniversary of South Africa's first democratic elections.
  • Many things have improved in South Africa since 1994, to be sure. State racism has ended, and the country now boasts what some have described as the most progressive constitution in the world. People have rights, and they know that there are institutions designed to protect and uphold those rights. Still, everyday life for most South Africans remains a struggle - a struggle that is infinitely compounded by the sense of disappointment that accompanies it, given the gap between the expectations of liberation and the state of abjection that the majority continues to inhabit.
  • South Africa's unemployment rate in 1994 was 13 percent - so bad that most were convinced it could only get better. Yet today it is double that, at about 25 percent.
  • ...15 more annotations...
  • And that's according to official statistics; a more reasonable figure, according to most analysts, is probably closer to 37 percent. The situation is particularly bad for young people. The Economist recently reported that "half of South Africans under 24 looking for work have none. Of those who have jobs, a third earn less than $2 a day."
  • South Africa also boasts a reputation for being one of the most unequal countries in the world. Not only has aggregate income inequality worsened since the end of apartheid, income inequality between racial groups has worsened as well.
  • According to the 2011 census, black households earn only 16 percent of that which white households earn. About 62 percent of all black people live below the poverty line, while in the rural areas of the former homelands this figure rises to a shocking 79 percent.
  • The ANC's Black Economic Empowerment programme has succeeded in minting new black millionaires (South Africa has 7,800 of them now), but can't seem to manage the much more basic goal of eliminating poverty.
  • during the negotiated transition of the 1980s and early 1990s. The apartheid National Party was determined that the transition would not undermine key corporate interests in South Africa, specifically finance and mining. They were willing to bargain away political power so long as they could retain control over the economy. And so they did.
  • The ANC was forced to retreat from its position on nationalisation and an IMF deal signed just before the transition deregulated the financial sector and clamped down on wage increases.
  • Still, when the ANC assumed power in 1994 it implemented a progressive policy initiative known as the Reconstruction and Development Programme (RDP). The RDP was designed to promote equitable development and poverty reduction
  • Despite its successes, this policy framework was abandoned a mere two years later. Mbeki and then Finance Minister Trevor Manuel held clandestine discussions with World Bank advisors toward drafting a new economic policy known as GEAR (Growth, Employment, and Redistribution, even though it accomplished precious little of the latter).
  • Given these contradictions, it's no wonder that South Africa is ablaze with discontent, earning it the title of "protest capital of the world".
  • Early this year some 3,000 protests occurred over a 90-day period, involving more than a million people. South Africans are taking to the streets, as they give up on electoral politics. This is particularly true for the young: Nearly 75 percent of voters aged 20-29 did not participate in the 2011 local elections.
  • The government's response has been a mix of police repression - including the recent massacre of 44 striking miners at Marikana - and the continued rollout of welfare grants, which now provide a vital lifeline to some 15 million people.
  • So far the protests have been focused on issues like access to housing, water, electricity, and other basic services, but it won't be long before they coalesce into something much more powerful
  • as they did during the last decade of apartheid. There are already signs that this is beginning to happen. The Economic Freedom Fighters, recently founded by Julius Malema, the unsavory former leader of the ANC Youth League, is successfully mobilising discontented youth and making a strong push to nationalise the mines and the banks.
  • It seems that the ANC's legitimacy is beginning to unravel and consent among the governed has begun to thin. It is still too early to tell, but the death of Mandela may further widen this crack in the edifice of the ruling regime, as the ANC scrambles to shore up its symbolic connection to the liberation struggle.
  • In short, the situation in South Africa over the past 20 years opens up interesting questions about the meaning of democracy. What is democracy if it doesn't allow people to determine their own economic destiny or benefit from the vast wealth of the commons? What is freedom if it serves only the capital interests of the country's elite? The revolution that brought us the end of apartheid has accomplished a great deal, to be sure, but it has not yet reached its goal. Liberation is not yet at hand.
  • Haydn W on 30 Mar 14
     
    From Al Jazeera I chose this article about the poor state of the economy in South Africa, 20 years after Nelson Mandela and the ANC came to power, ending the system of political, social and economic segregation, Apartheid. Despite reforms in the 90's the majority of wealth and power is still held by rich whites. With around 30% unemployment rate and young people struggling to find work many feel only anger and resentment to the current ANC government led by Jacob Zuma. Economically speaking South Africa's imports are up and exports down, reducing GDP as AS is shifted left. This is especially evident in industries like mining and banking which many are now calling for to be nationalised. 20 years on from Nelson Mandela's historic victory in the 1994 general election, South Africa, despite being free of the shackles of segregation is not in the boom many predict. The ANC must be careful in there actions, should they, following the death of Madiba lose contact with his legacy and what he stood for.
Jakub B

The Country Where Unemployment Is Better Than Employment - 0 views

www.psmag.com/...oyment-better-employment-74434

efficiency

shared by Jakub B on 11 Feb 14 - No Cached
  • Jakub B on 11 Feb 14
     
    The article discusses the problem of job allowances and other benefits that discourage people from working. Germany is an example of such a country and its policy is described in the article.
Amanda Anna G

Centre for Policy Studies: Productivity is Key to Securing UK's Economic Recovery - 1 views

www.ibtimes.co.uk/-uks-economic-recovery-1437283

aggregate-demand

shared by Amanda Anna G on 18 Mar 14 - No Cached
  • Centre for Policy Studies: Productivity is Key to Securing UK's Economic Recovery
  • Yesterday saw the release of another good set of jobs figures. Employment rose and youth unemployment and long term unemployment fell. Nevertheless, to secure the recovery and generate sustainable real wage rises, we need to break the decade long stagnation in productivity which is holding back our economy.
  • These increases in employment and hours worked have been crucial in restoring economic growth.
  • ...2 more annotations...
  • However, at some point the gains to be made from increasing the number of workers and increasing the number of hours will diminish. Education and welfare reforms combined with more robust growth in aggregate demand will cause the pool of available workers to shrink. When we reach that point, productivity will need to rise to support output growth and real wage rises.
  • Weak demand and labour hoarding have often been cited as the causes for this sustained weakness. However, stronger growth in demand in 2013 has not led to significant increases in output per hour. Rising aggregate demand must surely lead to some increases in productivity over time but it is clear that other structural reasons are holding back productivity growth.
  • Amanda Anna G on 18 Mar 14
     
    This article discusses how to secure the UK's economic recovery. It is suggested that increase in employment and hours worked could restore economic growth. At some point, this increase will diminish due to growth in the aggregate demand combined with education and welfare reforms that results in a decrease in the available workers. However, it is argued that rising aggregate demand would lead to increase in the productively over time, but other reasons are holding back productivity growth. 
Yassine G

World economy needs more aggregate demand - Economic Times - 0 views

articles.economictimes.indiatimes.com/...economy-negative-growth-nature

aggregate demand government

shared by Yassine G on 23 Mar 14 - No Cached
  • Yassine G on 23 Mar 14
     
    This might look like a very short article, however, i found it to pretty much sum up the whole theory, Aggregate demand is influenced by the government and hence decisions must be taken to increase aggregate demand. However, they must pay attention to other factors such as inflation and unemployment. this is what happens in real life. It is not just making the decision or finding a solution, it is also considering consequences and real needs and the ability to conduct a change. 
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