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Most users ever online was 51 on Thu Feb 17, 2011 2:04 pm

Long-term Unemployment: 'Out Of The Scope' Per Bernanke

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Long-term Unemployment: 'Out Of The Scope' Per Bernanke

Post by Quiethawk on Wed Apr 27, 2011 4:15 pm

There's little the Fed can do to target long-term unemployment in particular, Bernanke said. Part of the Fed's mandate is to promote maximum employment. But two months
from the end of the second asset-purchase program, the unemployment rate is high, at 8.8 percent. The number of long-term unemployed, people who have been out of work for at least six months, is now higher than it's ever been since World War Two, Bernanke said. But there's only so much the Fed can do, the chairman said.


"We dont have any tools for targeting long-term unemployment specifically.
We can just try to make the labor market work better broadly speaking,"
he said.
"It becomes really out of the scope of monetary policy.
At that point, job training, education and other types of interventions
would probably be more effective." —William Alden


http://www.huffingtonpost.com/2011/04/27/fed-chief-bernanke-holds-_n_854260.html#10_longterm-unemployment-out-of-the-scope
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Re: Long-term Unemployment: 'Out Of The Scope' Per Bernanke

Post by Sunrise on Wed Apr 27, 2011 4:22 pm

and I haven't even read the article.

Here goes....
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Re: Long-term Unemployment: 'Out Of The Scope' Per Bernanke

Post by nuttin2lose on Wed Apr 27, 2011 4:45 pm

Three Letters WPA for the long term an chronic unemplyed.

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Re: Long-term Unemployment: 'Out Of The Scope' Per Bernanke

Post by JaneWI on Wed Apr 27, 2011 4:46 pm

nuttin2lose wrote:Three Letters WPA for the long term an chronic unemplyed.

My thoughts exactly. Just think of all the skills that would be brought to the table with this program.
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Re: Long-term Unemployment: 'Out Of The Scope' Per Bernanke

Post by Phillymg on Wed Apr 27, 2011 5:17 pm

other types of interventions
Pass the buck much Mr. William Alden??
I'd say HR589 counts as 'another type of intervention'.

We should quote that guy William Alden in our calls & emails for HR589.

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Re: Long-term Unemployment: 'Out Of The Scope' Per Bernanke

Post by JaneWI on Thu Apr 28, 2011 5:49 pm

Phillymg wrote:
other types of interventions
Pass the buck much Mr. William Alden??
I'd say HR589 counts as 'another type of intervention'.

We should quote that guy William Alden in our calls & emails for HR589.

Very good idea, Phillymg!!! Smile
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Re: Long-term Unemployment: 'Out Of The Scope' Per Bernanke

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