Economics @ ITT

Unemployment for those earning over $150,000 is only 3%; unemployment for the poor is 31%

Posted in economics, employment by ittecon on April 27, 2010

This blog entry points out that unemployment for those earning $150,000 per year or more is only 3%, whilst unemployment for the poor is 31%. A recent study by Northeastern University’s Center for Labor Market Studies also notes that those earning over $100,000 are only experiencing 4% unemployment. Not to incite a riot or instigate a class war, there is clearly a disparity here. I was fortunate enough to have studied labour economics  with Paul Harrington at Northeastern, and I have to admit that Labour Economics has always been an economic topic with of my highest interest besides general Behavioural Economics and Game Theory, especially as it concerns labour contracts; but I digress. It’s nice to see that some economists are keeping an eye on this.

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