How Bad is US Unemployment?

Alan Freeman () and Radhika Desai

MPRA Paper from University Library of Munich, Germany

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.

Keywords: Keywords: Credit Crunch; Investment; Liquidity Preference; Rate of Profit; State; Welfare State; War; Military Keynesianism (search for similar items in EconPapers)
JEL-codes: E0 E12 E24 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-lab, nep-mac and nep-pke
Date: 2009-02-24
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Persistent link: http://EconPapers.repec.org/RePEc:pra:mprapa:13740

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