As the United States has suddenly pulled out of the Trans-Pacific Partnership, it is a good time to review the last, important trade deal of similar scale, NAFTA. As this chart shows, trade deficit with Mexico and Canada increased from USD$17.0 to $177.2 billion. According to this paper by Robert E. Scott, NAFTA has indirectly displaced upwards of one million jobs …
US unemployment rate during the Obama administration
The US unemployment rate under Obama started out at 9.5% as the banks collapsed and ends now at 4.6% according to the Bureau of Labor Statistics. These stats – as BLS professionals will tell you – are slow to acknowledge the new forms of work and benefits and other key factors. Still they provide a rough view of a positive …
Long term unemployed never returned to normal after the Crash
On Friday we showed the steady job growth in the United States since the Crash and the “Recovery.” But we use “recovery” in quotes for a reason. When you look at the rates of long term unemployed as a percentage of total unemployed in the United States, it becomes more difficult to believe in some sort of return to “normal.” …
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