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In a paper published in early May 2020, the Urban Institute estimated that about 25 million people would lose their employer-provided health insurance if the unemployment rate were to rise to 20%. Of these, they speculated, 12 million would obtain Medicaid coverage, 6 million would find coverage privately, and 7 million would become uninsured.
Annualized change in unemployment rate over each presidency from Truman to Biden, ordered from best-performing to worst-performing economic performance. Democrats are in blue, Republicans are in red. Unemployment rate change for each U.S. presidential term from 1949 (data from the Bureau of Labor Statistics) [ 14 ] [ 8 ]
The natural rate of unemployment is a combination of frictional and structural unemployment that persists in an efficient, expanding economy when labor and resource markets are in equilibrium. Occurrence of disturbances (e.g., cyclical shifts in investment sentiments) will cause actual unemployment to continuously deviate from the natural rate ...
Okun's law is an empirical relationship. In Okun's original statement of his law, a 2% increase in output corresponds to a 1% decline in the rate of cyclical unemployment; a 0.5% increase in labor force participation; a 0.5% increase in hours worked per employee; and a 1% increase in output per hours worked (labor productivity).
Sahm rule 1949-2024. In macroeconomics, the Sahm rule, or Sahm rule recession indicator, is a heuristic measure by the United States' Federal Reserve for determining when an economy has entered a recession. [ 1 ] It is useful in real-time evaluation of the business cycle and relies on monthly unemployment data from the Bureau of Labor ...
The unemployment rate also fell to 4.1% from 4.2% in August. Collins pointed to how the unemployment rate rose from very low levels over the past year but has recently ticked back down and remains ...
The Phillips curve is an economic model, named after Bill Phillips, that correlates reduced unemployment with increasing wages in an economy. [ 1 ] While Phillips did not directly link employment and inflation, this was a trivial deduction from his statistical findings. Paul Samuelson and Robert Solow made the connection explicit and ...
The Labor Department reported Thursday that applications for jobless claims jumped by by 33,000 to 258,000 for the week of Oct. 3. That's the most since Aug. 5, 2023 and well above the 229,000 ...