a lost decade for jobs, unless … fred moseley professor of economics mount holyoke college...
TRANSCRIPT
![Page 1: A Lost Decade for Jobs, Unless … Fred Moseley Professor of Economics Mount Holyoke College fmoseley@mtholyoke.edu](https://reader036.vdocument.in/reader036/viewer/2022062717/56649e465503460f94b3b2cb/html5/thumbnails/1.jpg)
A Lost Decade for Jobs, Unless …
Fred Moseley
Professor of Economics
Mount Holyoke College
![Page 2: A Lost Decade for Jobs, Unless … Fred Moseley Professor of Economics Mount Holyoke College fmoseley@mtholyoke.edu](https://reader036.vdocument.in/reader036/viewer/2022062717/56649e465503460f94b3b2cb/html5/thumbnails/2.jpg)
![Page 3: A Lost Decade for Jobs, Unless … Fred Moseley Professor of Economics Mount Holyoke College fmoseley@mtholyoke.edu](https://reader036.vdocument.in/reader036/viewer/2022062717/56649e465503460f94b3b2cb/html5/thumbnails/3.jpg)
![Page 4: A Lost Decade for Jobs, Unless … Fred Moseley Professor of Economics Mount Holyoke College fmoseley@mtholyoke.edu](https://reader036.vdocument.in/reader036/viewer/2022062717/56649e465503460f94b3b2cb/html5/thumbnails/4.jpg)
![Page 5: A Lost Decade for Jobs, Unless … Fred Moseley Professor of Economics Mount Holyoke College fmoseley@mtholyoke.edu](https://reader036.vdocument.in/reader036/viewer/2022062717/56649e465503460f94b3b2cb/html5/thumbnails/5.jpg)
Demographic groups
Ages 16-19 26.0%
Ages 20-24 14.8
African-American 16.1
Latino 12.4
![Page 6: A Lost Decade for Jobs, Unless … Fred Moseley Professor of Economics Mount Holyoke College fmoseley@mtholyoke.edu](https://reader036.vdocument.in/reader036/viewer/2022062717/56649e465503460f94b3b2cb/html5/thumbnails/6.jpg)
![Page 7: A Lost Decade for Jobs, Unless … Fred Moseley Professor of Economics Mount Holyoke College fmoseley@mtholyoke.edu](https://reader036.vdocument.in/reader036/viewer/2022062717/56649e465503460f94b3b2cb/html5/thumbnails/7.jpg)
![Page 8: A Lost Decade for Jobs, Unless … Fred Moseley Professor of Economics Mount Holyoke College fmoseley@mtholyoke.edu](https://reader036.vdocument.in/reader036/viewer/2022062717/56649e465503460f94b3b2cb/html5/thumbnails/8.jpg)
Causes of “jobless recovery”
1. Slow growth of the economy
2. Business emphasis on cost-cuttingespecially labor costs
reluctant to hire“speed up” employed workers“outsourcing” jobs overseas
![Page 9: A Lost Decade for Jobs, Unless … Fred Moseley Professor of Economics Mount Holyoke College fmoseley@mtholyoke.edu](https://reader036.vdocument.in/reader036/viewer/2022062717/56649e465503460f94b3b2cb/html5/thumbnails/9.jpg)
How long will it take to recover 8.4 million jobs?
monthly years arrival rate of UE
avg. ↑E to E0 date at E0 at arrival date *
70,000 10 Jan. 2020 14.6%
100,000 7 Jan. 2017 9.4
200,000 3.5 July 2013 8.6
* assumes 0.8% increase in the labor force per year
![Page 10: A Lost Decade for Jobs, Unless … Fred Moseley Professor of Economics Mount Holyoke College fmoseley@mtholyoke.edu](https://reader036.vdocument.in/reader036/viewer/2022062717/56649e465503460f94b3b2cb/html5/thumbnails/10.jpg)
![Page 11: A Lost Decade for Jobs, Unless … Fred Moseley Professor of Economics Mount Holyoke College fmoseley@mtholyoke.edu](https://reader036.vdocument.in/reader036/viewer/2022062717/56649e465503460f94b3b2cb/html5/thumbnails/11.jpg)
![Page 12: A Lost Decade for Jobs, Unless … Fred Moseley Professor of Economics Mount Holyoke College fmoseley@mtholyoke.edu](https://reader036.vdocument.in/reader036/viewer/2022062717/56649e465503460f94b3b2cb/html5/thumbnails/12.jpg)
![Page 13: A Lost Decade for Jobs, Unless … Fred Moseley Professor of Economics Mount Holyoke College fmoseley@mtholyoke.edu](https://reader036.vdocument.in/reader036/viewer/2022062717/56649e465503460f94b3b2cb/html5/thumbnails/13.jpg)
![Page 14: A Lost Decade for Jobs, Unless … Fred Moseley Professor of Economics Mount Holyoke College fmoseley@mtholyoke.edu](https://reader036.vdocument.in/reader036/viewer/2022062717/56649e465503460f94b3b2cb/html5/thumbnails/14.jpg)
Anchor Page HELP for 99ers WHATs NEW RADIO SHOW twitter-chat WALL OF SHAME NYC 99er Rally legislators-list Videos GOOD STUFF Vision/mission About us WARNING Tier 5 99ers Blog
Jobless Unite TIER 5 to SURVIVE !!!!
******* GREAT NEWS ABOUT TIER 5 see: Tier 5 - 99er Blog !!!!
If you have not yet checked out the www.99ersUnited.com website, PLEASE DO!!! That site is terrific!
**********************
![Page 15: A Lost Decade for Jobs, Unless … Fred Moseley Professor of Economics Mount Holyoke College fmoseley@mtholyoke.edu](https://reader036.vdocument.in/reader036/viewer/2022062717/56649e465503460f94b3b2cb/html5/thumbnails/15.jpg)
Not due to “not enough jobs”
Due instead to:
Mismatch of skills
Mismatch of location
“Structural Unemployment”
![Page 16: A Lost Decade for Jobs, Unless … Fred Moseley Professor of Economics Mount Holyoke College fmoseley@mtholyoke.edu](https://reader036.vdocument.in/reader036/viewer/2022062717/56649e465503460f94b3b2cb/html5/thumbnails/16.jpg)
General Principle:
Everyone has the basic human right to productive employmentat a decent income
What is to be done?
![Page 17: A Lost Decade for Jobs, Unless … Fred Moseley Professor of Economics Mount Holyoke College fmoseley@mtholyoke.edu](https://reader036.vdocument.in/reader036/viewer/2022062717/56649e465503460f94b3b2cb/html5/thumbnails/17.jpg)
1. Demand that the government provide full employment
Tax the rich to pay for itPlus 25% cut in military spending
2. Worker owned cooperativesUSW - Mondragon
3. Socialist revolution and establishment of democratic socialist economy
What is to be done?
![Page 18: A Lost Decade for Jobs, Unless … Fred Moseley Professor of Economics Mount Holyoke College fmoseley@mtholyoke.edu](https://reader036.vdocument.in/reader036/viewer/2022062717/56649e465503460f94b3b2cb/html5/thumbnails/18.jpg)
![Page 19: A Lost Decade for Jobs, Unless … Fred Moseley Professor of Economics Mount Holyoke College fmoseley@mtholyoke.edu](https://reader036.vdocument.in/reader036/viewer/2022062717/56649e465503460f94b3b2cb/html5/thumbnails/19.jpg)
“In our day these economic truths have become accepted as self-evident. We have accepted a second Bill of Rights under which a new basis of security and prosperity can be established for all.
The right to a useful and remunerative job is one of these rights.”
State of the Union Address, January 1944
President F. Roosevelt
![Page 20: A Lost Decade for Jobs, Unless … Fred Moseley Professor of Economics Mount Holyoke College fmoseley@mtholyoke.edu](https://reader036.vdocument.in/reader036/viewer/2022062717/56649e465503460f94b3b2cb/html5/thumbnails/20.jpg)
Everyone has the right to work, to free choice of employment, to just and favorable conditions of workand to protections against unemployment.
United Nations Declaration of Human Rights (1948)