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Long-term Unemployment: 'Out Of The Scope' Per Bernanke
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Long-term Unemployment: 'Out Of The Scope' Per Bernanke
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
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
Quiethawk- Elite Poster
- Posts : 707
Join date : 2011-02-12
Re: Long-term Unemployment: 'Out Of The Scope' Per Bernanke
and I haven't even read the article.
Here goes....
Here goes....
Sunrise- Terrific Poster
- Posts : 1829
Join date : 2011-02-12
Location : Alaska
Re: Long-term Unemployment: 'Out Of The Scope' Per Bernanke
Three Letters WPA for the long term an chronic unemplyed.
nuttin2lose- Terrific Poster
- Posts : 1561
Join date : 2011-02-13
Re: Long-term Unemployment: 'Out Of The Scope' Per Bernanke
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.
JaneWI- Monster Poster
- Posts : 2298
Join date : 2011-02-13
Re: Long-term Unemployment: 'Out Of The Scope' Per Bernanke
Pass the buck much Mr. William Alden??other types of interventions
I'd say HR589 counts as 'another type of intervention'.
We should quote that guy William Alden in our calls & emails for HR589.
Phillymg- Super Poster
- Posts : 1435
Join date : 2011-02-13
Age : 65
Re: Long-term Unemployment: 'Out Of The Scope' Per Bernanke
Phillymg wrote:Pass the buck much Mr. William Alden??other types of interventions
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!!!
JaneWI- Monster Poster
- Posts : 2298
Join date : 2011-02-13
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