A Quote by Austan Goolsbee
History teaches that the level of unemployment is not as important as whether the rate's going down.
Related Quotes
The black unemployment rate has to be twice that of the white rate in the US. If the national unemployment rate were 6.8 percent, everyone would be freaking out. We ought to not take too much solace in the 6.8 percent, but ask ourselves what can we do to bring that down to white rates, which are below 4 percent now. Some of that has to do with education, but that's just part of the story. You find that those unemployment differentials persist across every education level. I think it means pushing back on discrimination and helping people who can't find work get into the job market.
In most Western economies, the general relationship is not in fact between the rate of inflation and the level of unemployment, but between the rate of change of inflation and the rate of change of unemployment.
I can't possibly predict precisely what the unemployment rate will be at the end of one year. I can tell you that over a period of four years, by virtue of the policies that we'd put in place, we'd get the unemployment rate down to 6%, and perhaps a little lower.
I think President Barack Obama is going to be treated very, very well by history in terms of his ability to save the economy. And that's certainly true in rural areas. The unemployment rate is substantially reduced, the poverty rate is down, and in large part because of the investments that were made during the Recovery Act and thereafter, historic investments.
In Michigan, in the mid-'80s, the unemployment rate goes way up because a lot of factories shut down. And then, the mid-2000s, to pick a date, the unemployment rate in Michigan isn't that much higher than in the rest of the country. But the main way that happened is people moved.
Generous unemployment benefits can increase both structural and frictional unemployment. So government policies intended to help workers can have the undesirable side effect of raising the natural rate of unemployment.
Well, our economy is very strong and growing. We have created 5.4 million new jobs in the last 3 years. Our unemployment rate is better than the average unemployment rate of the 1960s, 1970s, 1980s, and 1990s.
You see the unemployment rate is at a very, very low level. Job enthusiasm and manufacturing, business enthusiasm is at record levels; never been higher... We've got it going.
The higher the unemployment rate, the more leverage I have to 'encourage' you to 'do what it takes' to keep your job. And so you work even more hours, pushing unemployment up and wages down. And that, my friends, is one of the little tricks that keeps you poor and me rich.
We need a candidate who's going to be a fighter for freedom. Who is going to get up and make that the central theme in this race because it is the central theme in this race. I don't care what the unemployment rate's going to be. Doesn't matter to me. My campaign doesn't hinge on unemployment rates and growth rates.
The 'black rule' is that youth unemployment is, on average, double a country's unemployment rate.
The economy is better than the one President [Barack] Obama inherited, and unemployment is lower, but the unemployment rate gap remains large.
The unemployment rate went down as I was governor of Massachusetts. We were losing jobs every month when I came into the state.
The Fed's buying is far more important to the market price of U.S. debt than any other economic variable. If the Fed stops buying, it doesn't matter whether unemployment goes up or down. It doesn't matter whether inflation is higher or lower. Its influence on the market is dominant.
To reduce repossessions caused by unemployment, Gordon Brown needs to look at cutting the rate of corporation tax for small companies to 20 per cent and the main rate to 25 per cent, while reducing the rate of employers' national insurance by 1% for the smallest companies.
A nation's exchange rate is the single most important price in its economy; it will influence the entire range of individual prices, imports and exports, and even the level of economic activity. So it is hard for any government to ignore large swings in its exchange rate.
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