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Posted by: Michael Mandel on May 25
Just read several interesting items on the length of unemployment. Paul Krugman wrote in the NYT on May 23 that “unemployment lasts much longer than it used to.” Writing in EconoPundit, Steve Antler argues, with a little chart, that “relative to 1983 recession-peak-unemployment lasts about two weeks less than it used to.” Brad DeLong responds, with yet more charts, arguing that Krugman is right, and that “Steve Antler writes with forked tongue.”
Here’s Antler’s chart. Decide for yourself.
Michael Mandel, BW's award-winning chief economist, provides his unique perspective on the hot economic issues of the day. From globalization to the future of work to the ups and downs of the financial markets, Mandel-named 2006 economic journalist of the year by the World Leadership Forum-offers cutting edge analysis and commentary.