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That's not "basically full employment" -- it's the highest unemployment rate among college grads in the last 2 decades. Here's a BLS report that shows that mor
by phil 16y ago
That's not "basically full employment" -- it's the highest unemployment rate among college grads in the last 2 decades.
Here's a BLS report that shows that more clearly: http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?request_action=get_data&reformat=true&from_results_page=true&from_year=1992&to_year=2010&Go.x=2&Go.y=9&initial_request=false&data_tool=surveymost&series_id=LNS14027659&&series_id=LNS14027660series_id=LNS14027689&series_id=LNS14027662&output_type=default&original_output_type=default http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?request_...
- charlesju 16y agohttp://en.wikipedia.org/wiki/Full_employment http://en.wikipedia.org/wiki/Full_employment "The idea that the full-employment unemployment rate (NAIRU) is not a unique number has been seen in recent empirical research. Staiger, Stock, and Watson found that the range of possible values of the NAIRU (from 4.3 to 7.3% unemployment) was too large to be useful to macroeconomic policy-makers. Robert Eisner suggested that for 1956-95 there was a zone from about 5% to about 10% unemployment between the low-unemployment realm of accelerating inflation and the high-unemployment realm of disinflation. In between, he found that inflation falls with falling unemployment."
- achompas 16y agoYou can't take the American labor force's NAIRU and apply it to college grads--historically, they have lower unemployment.