Re: [OPE] The unemployment implications of the current recession in the US: pondering the numbers

From: Alejandro Valle Baeza (
Date: Sun Apr 20 2008 - 21:15:40 EDT


Jurriaan Bendien escribió:
The probability of an external shock is greater than that of an internal shock, I would say. The worst that could happen in the next two years, is probably that about one in ten American workers would be unemployed. That is capitalism, and if you don't like it, you are going to have to think differently about what's really important in life. Should speculators in Wall Street be able to determine how your life will go, yes or no? If you say no, then the US Senate has to prohibit certain capital transactions. If you say yes, you can share in the further adventures of Wall Street. Enjoy the ride!



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Jurrian, very interesting post to me. Take a look to this graph:

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Hence, there is a trend showing structural problems for US workers and recession would increase such problems for sure. As you can see, unemployment is not a good measure of employment problems.
Graph is from NYT, April 12 th 2008

Alejandro Valle Baeza
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Av. Universidad 3000 Circuito interior

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