Between June and July of this year, 44,000 nonfarm jobs disappeared, according to the Labor Department’s Bureau of Labor Statistics. But during the same period, BLS reported a 0.2 percent drop in the unemployment rate. Why didn’t unemployment go up instead of down? Here’s another conundrum: In 2002, the American
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The situation the United States currently enjoys—low unemployment, low inflation, and rapid growth—has left economists struggling for an explanation in light of its apparent incongruity with the tenets of two predominant economic theories of the past 40 years, the Phillips curve and the “natural rate of unemployment.” Although the theories
A joint U.S.-Canadian conference convened last year to explore and gain insights into nonunion forms of representation. Held in Banff, Alberta, the conference sought to promote a dialogue on NUR, and address worker issues, legal and consulting strategies, public policy, union perspectives, and management concerns around the issue. The conference