Word: adds
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Dates: during 2000-2009
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...really more of a rule of thumb) says that when the economy grows, it produces jobs at a predictable rate, and when it shrinks, it sheds them at a similarly regular pace. It's a labor version of how the accelerator on your car works: add gas, go faster; less gas, go slower...
...What made Summers' frank comment important is that it suggests this just-add-gas relationship may now be malfunctioning. The American economy has been shedding jobs much, much faster than Okun's law predicts. According to that rough rule, we should be at about 8.5% unemployment today, not slipping toward 10%. Something new and possibly strange seems to be happening in this recession. Something unpredicted by the experts. "I don't think," Summers told the Peterson Institute crowd - deviating again from his text - "that anyone fully understands this phenomenon." And that raises some worrying questions. Will creating jobs be that...
...medical student has gone missing at Yale, Penn has reduced its lectures to 60 seconds, and a retired Yale employee almost shot up the HR office. Add to that the fact that Harvard and Yale have posted 30 percent endowment losses, and we're left to conclude that the Ivy League might be going mad. More after the jump...
...kids in the public school system, and we all know that the public schools need as much support as they can get: parents reading to kids, people going on field trips, people monitoring recess. Those are things that you can do if you have time on your hands that add value to your home base...
That is, once you get there. Airlines have yet to add flights for the World Cup. (It's at least a 15-hour hop from the U.S.) Cohen cautions that travel to Africa isn't like anything else and that World Cup tourists should organize early and deal with reputable agents. Tickets are available through FIFA's second phase of sales, which runs until Nov. 16. U.S. Soccer's Neil Buethe says FIFA is allotting 12% of each stadium's seats to participating teams, and once the American team has qualified, fans should check ussoccer.com for more information. The next...