Economics @ ITT

3.3 job-seekers for each job opening in the US

Posted in economics, employment by ittecon on April 4, 2013

The January Job Openings and Labor Turnover Survey (JOLTS), released today by the Bureau of Labor Statistics, shows job openings increased in January to nearly 3.7 million, a rise of 81,000 since December. The number of job openings, which had been improving generally since reaching its low of 2.2 million in July 2009, is still below its recent peak of 3.8 million in March 2012.

via Job openings and hiring increased slightly in January, but there are still 3.3 job-seekers for every job opening | Economic Policy Institute.

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Why Was Paul Krugman So Wrong on Globalisation?

Posted in economics by ittecon on April 2, 2013

“What we should have learned from the Iraq debacle was that you should always be skeptical and that you should never rely on supposed authority,” Krugman wrote in his New York Times column. “If you hear that ‘everyone’ supports a policy, whether it’s a war of choice or fiscal austerity, you should ask whether ‘everyone’ has been defined to exclude anyone expressing a different opinion.”

via Why Was Paul Krugman So Wrong? | The Nation.