A Quote by Janet Yellen
Policy makers should be compelled to take action given the serious costs of long-term unemployment when overall unemployment is already high. A week of unemployment is worse when it is experienced as part of a longer spell.
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Unemployment insurance was meant to be a bridge for temporary spells of unemployment. The bad news is all the evidence is that the longer you have unemployment insurance, the longer people stay out of work, their skills erode. The job they ultimately get pays less. And that's not to their benefit.
Long-term unemployment is particularly costly to those directly affected, of course. But in addition, because of its negative effects on workers' skills and attachment to the labor force, long-term unemployment may ultimately reduce the productive capacity of our economy.
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.
I've heard the argument that unemployment benefits somehow act as a disincentive to the long-term unemployed when it comes to looking for work, but the opposite is true. Unemployment Insurance serves as a powerful incentive for people to keep searching for jobs, rather than drop out of the labor force altogether.
The 'black rule' is that youth unemployment is, on average, double a country's unemployment rate.
I am not alone in that I've had times of unemployment - unemployment is huge amongst disabled people.
Unemployment doles can have no other effect than the perpetuation of unemployment.
It is well known that unemployment benefits raise unemployment durations.
All of the progress that the US has made over the last couple of centuries has come from unemployment. It has come from figuring out how to produce more goods with fewer workers, thereby releasing labor to be more productive in other areas. It has never come about through permanent unemployment, but temporary unemployment, in the process of shifting people from one area to another.
Because standard unemployment reports continue to exclude prisoners, we have been treated to a highly misleading picture of black unemployment.
The economy is better than the one President [Barack] Obama inherited, and unemployment is lower, but the unemployment rate gap remains large.
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.
I did go through a period where I was on unemployment. That was my low point: Martha Quinn on line at unemployment, hoping nobody will recognize her.
Every actor knows what unemployment is like, and knows what long periods of unemployment are like, unless you're spectacularly lucky.
Such a thing as ending unemployment would never occur to Washington politicians because their corporate backers depend on the threat of unemployment to keep wages down.
High mandated minimum wages will throw people out of work and onto the welfare rolls in cases where unemployment benefits exist. When it comes to welfare payments, they obey the laws of economics, too. Indeed, if something - like unemployment - is subsidized, more of it will be produced.
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