What President Biden Inherits
As President Joe Biden takes office, he inherits:
The worst disease outbreak in over a century, which is spreading faster and killing more people in the U.S. than at any time since it began one year ago.
Highly effective vaccines that so far have reached only 4% of the public.
An economy struggling with 10 million jobless and millions more out of the workforce.
A rising tide of murders up nearly 36% last year in major cities.
Federal debt the highest since World War II, as a percentage of the U.S. economy, and an annual deficit running at $2.3 trillion this year even before Biden asks for a $1.9 trillion aid package.
Full Employment In The New Monetary Policy Framework, Federal Reserve Governor Lael Brainard, At The Inaugural Mike Mccracken Lecture On Full Employment Sponsored By The Canadian Association For Business Economics (Via Webcast) Date
13/01/2021
I want to thank the Canadian Association for Business Economics for inviting me to join you today, particularly president Bonnie Lemcke and past president Armine Yalnizyan. It is a pleasure to be here with Carolyn Wilkins.
I am honored to deliver the inaugural Mike McCracken Lecture on Full Employment.1 Widely known for his critical contributions in bringing computer modeling to Canadian economic forecasting, Mike McCracken is perhaps best known for his tireless advocacy that lower unemployment remains the most important goal for the economy, which is particularly resonant for me, along with his emphasis on thinking critically and expansively about full employment.2 A similar theme was highlighted by community and labor representat
(
ThyBlackMan.com) When the Bureau of Labor Statistics (BLS) delivers its April jobs report on May 8, 2020, at 8:30 a.m., it will show high unemployment rates for the general population. It will also, show the black population, which is the first worker group laid-off in any Economic Downturn has slipped into a Great Depression.
However, because the Trump administration is low balling the unemployment numbers by using the category of U-3 based on the Alternative Measurements of Unemployment (
http://www.bls.gov/news.release/empsit.t15.htm), the nation won’t know the true condition of the labor market. Presidential administrations can manipulate the “official” unemployment rate, based on the category it uses, for their own political purposes. At this time, the Trump administration in its press releases, of the condition of the labor market, is using U-3, as the “official unemployment rate.”]
Unemployment Rates, OECD - Updated: December 2020 oecd.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from oecd.org Daily Mail and Mail on Sunday newspapers.