How The Government Can Guarantee Everyone A Job And Fix The Unemployment Crisis Immediately
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 9 July 2020
⏱️ 49 minutes
🧾️ Download transcript
Summary
Officially, the US unemployment rate stands at 11%. This is higher than the worst levels of the financial crisis. And there are reasons to think that the actual state of unemployment is even worse. There’s a wide variety of views on how to address this, but what about the government simply guaranteeing everyone a right to a job? On this episode of the Odd Lots podcast, we speak to Pavlina R. Tcherneva, an economist at Bard College, and the author of The Case for a Job Guarantee about what the government can do right now to end the crisis.
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| 0:45.0 | I'm Tracy Hallaway. |
| 0:48.0 | So Tracy, we kind of have an extremely timely episode today, even the news. This is going to be one of those |
| 0:55.1 | episodes where we have to definitely make sure that we say what day we are |
| 0:59.2 | recording and what time but it's jobs day. It's jobs day that's right it's Job's Day. It's July 2nd, 2020 so depending on when you're |
| 1:08.1 | listening to this take that into account and just about 30 minutes ago we got the June jobs report. And at least on the headline measures, it was definitely better than expected. |
| 1:20.0 | Yeah, I'm looking at those now, so we have 4.8 million jobs added versus expectations of what was it 3 point something do you remember Joe? |
| 1:31.3 | Yeah, 3.2 million 3.2 million. Yeah, so a huge beat on the expectations. |
| 1:37.8 | And I'm looking at the chart, I know we've been debating about how best to chart all these various economic |
| 1:44.6 | indicators but you know it looks like a V. If you just sort of look at the pure |
| 1:50.3 | headline I mean it is jobs are coming back sooner than expected I would |
| 1:56.0 | say and faster than expected but of course there's all kinds of caveats in there |
| 2:00.7 | including the fact that most of these, this snapshot of the economy was taken prior to |
| 2:08.0 | this re-acceleration of the virus, so of course, there's a, in the U.S. anyway, so there's a sense in which this is dated also you |
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