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How Bad is US Unemployment?

Author

Listed:
  • Freeman, Alan
  • Desai, Radhika

Abstract

This article assesses the significance of the January 2009 US unemployment figures. The steep fall of 4 million jobs is greater than any 12-month fall in history. Does this mean that 2007-2008 heralds the worst recession since 1929? This article assesses the empirical evidence of the US payroll figures to date.

Suggested Citation

  • Freeman, Alan & Desai, Radhika, 2009. "How Bad is US Unemployment?," MPRA Paper 13740, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:13740
    as

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    File URL: https://mpra.ub.uni-muenchen.de/13740/1/MPRA_paper_13740.pdf
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    References listed on IDEAS

    as
    1. Freeman, Alan, 2009. "Investing In Civilization," MPRA Paper 26807, University Library of Munich, Germany, revised 15 Feb 2009.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Freeman, Alan, 2009. "Investing In Civilization," MPRA Paper 26807, University Library of Munich, Germany, revised 15 Feb 2009.
    2. Freeman, Alan, 2013. "The Road out of Crisis and the Policy Choices Facing Russia," MPRA Paper 52681, University Library of Munich, Germany, revised 02 May 2013.

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    More about this item

    Keywords

    Keywords: Credit Crunch; Investment; Liquidity Preference; Rate of Profit; State; Welfare State; War; Military Keynesianism;
    All these keywords.

    JEL classification:

    • E0 - Macroeconomics and Monetary Economics - - General
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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