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  • Long-Term Unemployed: Demoralized, Fading Away

    Alan Krueger, the Princeton economist recruited to lead President Obama’s economics team just before the announcement the new jobs initiative, has done some influential research on unemployment.

    Alan Krueger, the Princeton economist recruited to lead President Obama’s economics team just before the president is set to announce a major new jobs initiative, has done some influential research on unemployment.

    Krueger and Mueller offered three likely explanations for the decline in job-search durations. First, workers could have run through most of the decent jobs to apply for. Second, they could have gotten better at searching and needed less time to scan and respond to ads. And third, they could have gotten discouraged and quit looking.

    “Distinguishing among these explanations is very important, as the latter behavior could lead to hysteresis and prolonged joblessness after the job market improves,” Krueger and Mueller wrote.

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    Good luck.

    Calvin Wilson
    Founder and CEO
    Upstart: Business and Management for 20-40 Year Old Professionals
    calvin.wilson1@verizon.net
    http://twitter.com/Upstart__Nation

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