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From the WSJ - It looks like more people are being hired according to this post from Real Time Economics. While this is an excellent sign, what do you think could be causing this drop in jobless claims? If the quantity supplied of labor is greater than the quantity demanded then we have unemployment (i.e. a large amount of jobless claims). Whenever Qs > Qd for labor then what happens to the price of labor (wages)? Could the price of other inputs (capital, land, etc..) also affect the hiring rate?
R10361779
4/9/2012 12:34:24 pm
I'm glad that the labor market is finally showing some signs of improvement. We, as Americans, could definitely use the help from the labor market to provide for ourselves and our families.
10412481
4/10/2012 07:31:40 am
Finally signs of health in the labor market. Yes, the hiring rate can be affected by the price of other goods/services in this situation, for example the location and amount of land and capital is available for that certain job.
R10403506
4/10/2012 08:21:51 am
This is a great sign. Hopefully there will be more good things following this.
R10436673
4/10/2012 11:07:04 am
A possibility on why there are less jobless claims is because of new businesses being started or businesses needing more production due to a higher demand of their goods.The price of labor goes down in this case and other factors such as land and capital might effect this as well.
10412296
4/11/2012 09:02:46 am
I agree and I also think that when jobless claims raise, it results in a lower price of labor. If more people want jobs and the jobless claims have risen (i.e. the Qs>Qd) then employers will be able to get away with paying employees lower wages because it is better to be paid a little bit than not to be paid at all.
r10409494
4/11/2012 05:16:28 am
I think that the reason that the jobless claims are starting to decrease is because people finally started to realize that the job market was so bad they had to find a way to help make it better. It is a great thing that the job market is starting to pick up now.I do think that other factors such as land and capital will effect the price of labor, which i think decrease when QS is greater than QD.
R10453152
4/11/2012 09:37:33 pm
Good to see the job market is rising again. Hopefully this will help some people get back on their feet.
R10492644
4/12/2012 08:11:10 am
I think that it is great that the labor market is starting to turn around. I hope it stays that way rather than it just be something that happens randomly.
10300090
4/12/2012 12:27:53 pm
I hope that the unemployment rate keeps decreasing!
Gabriel Davila
4/12/2012 03:43:00 pm
Well to answer the question of why people are claiming less to why they don't have jobs is cause well they found work.
Caroline Andrews
4/12/2012 03:58:55 pm
With this comment, now that the job market has started to increase more people have the opportunity to get a job. Hopefully this keeps increasing!
R10429661
4/13/2012 12:00:38 am
Reading this is very uplifting. Hopefully this trend continues for months on end because as a college student you want as many job opportunities as possible. Comments are closed.
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