|
From the NY Times blog, Economix, this is a look at how this recession compares to past recessions. Although the unemployment rate is generally a concern of macroeconomics, we can analyse the labor market with a micro-prespective. From the graph, how do you compare this recession to those of the past? Would you say that there is a shortage or a surplus of labor in the market? Thinking back to the superbowl blog post, if a lot of demanders caused the price of tickets to increase, what will likely happen to the price of labor (i.e. wages) in this economic climate?
Jamal Atwell
2/18/2012 06:30:31 am
The graph clearly indicates that this current recession is significantly worse than past recession. I would say that there is a surplus of labor in the market because you have lots of people unemployed who "want" to work but can't find jobs, so there is a surplus of labor.
Gabriel
3/6/2012 03:37:25 pm
agreed Comments are closed.
|
About the BlogThis is the blog containing resources for all courses and presentations. For updates on required current events readings, podcasts, and videos subscribe to the RSS Feed Archives
July 2017
Categories
All
|
RSS Feed
