Tag Archives: Employment

Policy Research in Macroeconomics (PRIME’s official name) is a company limited by guarantee, incorporated in England and Wales. It is company no. 07438334 and its registered office is at 11a Hatch Road, Pilgrims Hatch, Brentwood, Essex, CM15 9PU.We collect cookies on this website through web analytics. For more information, please read our Privacy Policy.

Policy Research in Macroeconomics (PRIME’s official name) is a company limited by guarantee, incorporated in England and Wales. It is company no. 07438334 and its registered office is at 11a Hatch Road, Pilgrims Hatch, Brentwood, Essex, CM15 9PU.We collect cookies on this website through web analytics. For more information, please read our Privacy Policy.

Our new research report, published today, looks at the state of the UK’s labour market, based on the most recent data from the Office for National Statistics. It compares these recent data with those from 2019, and sometimes with earlier data. You can download the report here. The report looks at a wide range of issues, including size of the workforce, the economically active and inactive, employees and self-employed, full and part-time workers. It also examines data on developments in...

In the U.S., we are told, the post-World War II period was a golden age of full employment. High wartime government spending had brought to an end the double-digit unemployment and misery of the Depression, and as war gave way to peace, unemployment settled at a non-inflationary level of 3-5%. It's known as the post-war "economic miracle".But it's a myth. There was never full employment. The low unemployment of the post-war years is a massive statistical fudge. In fact, over five million...

Employment generates income and spending. The gap vs the pre-covid path is closing at an ever slowing rate. And the cost of living is rising faster than wages, which exacts a toll as well. These are inflation-adjusted: This came out last week:

MarketWatch 666’s RJS: 5th record in a row; job openings have risen 62% so far this year . . . Here is the Fred graph. Job Openings: Total Nonfarm (JTSJOL) | FRED | St. Louis Fed (stlouisfed.org)Despite record highs, hiring is down and layoffs are up . . . Something is clearly broken. July Job Openings at Record High after June Record Revised Higher; Hiring Down, Job Quitting  and  Layoffs  Higher The Job Openings and Labor Turnover...

Michael Stephens | April 28, 2021 Senior Scholar Rania Antonopoulos recently participated in a webinar for the European Trade Union Institute, during which she discussed the rationale behind and experience with the implementation of the “Kinofelis” direct job creation program—a limited job guarantee for Greece. Watch her presentation below (accompanying slides are here). The Levy Institute’s previous Strategic Analysis for...

Michael Stephens | April 28, 2021 Senior Scholar Rania Antonopoulos recently participated in a webinar for the European Trade Union Institute, during which she discussed the rationale behind and experience with the implementation of the “Kinofelis” direct job creation program—a limited job guarantee for Greece. Watch her presentation below (accompanying slides are here). The Levy Institute’s previous Strategic Analysis for...

Is our biggest worry inflation? No, our biggest worry is a fall in employment, investment and income.Inflation is caused by the economy ‘overheating’. Wage and price inflation arises when economic activity (investment, employment, income) exceeds the capacity of the economy.  Put simply, inflation most often arises in conditions of full employment, when incomes are high and rising and when investment in new jobs, speculation and the creation of new assets, surges. Many point to the 1970s as...

Is our biggest worry inflation? No, our biggest worry is a fall in employment, investment and income.Inflation is caused by the economy ‘overheating’. Wage and price inflation arises when economic activity (investment, employment, income) exceeds the capacity of the economy.  Put simply, inflation most often arises in conditions of full employment, when incomes are high and rising and when investment in new jobs, speculation and the creation of new assets, surges. Many point to the 1970s as...