unemployment

State & Hill

Discourse: Fordies in the news, fall 2023

Dec 12, 2023

“Rather than a single terrorist attack, this was a complex operation that involved commando teams and rocket attacks against multiple targets. The fact that Israel appears to have lacked advance warning is surprising, given Israel’s excellence in...

Headshots of Ali, Hausman, Rabe, Ciorciari, Parthasarathy, Horner, and Stevenson

Publication

Stevenson predicts continued labor strife in an uncertain market

Sep 22, 2023

As the U.S. endures the UAW, Writers’ Guild, and Screen Actors strikes, among others, Ford School economics professor Betsey Stevenson says the country may endure more labor upheaval. Once the chief economist at the U.S. Department of Labor, she...

In the Media

Wolfers: "This ain't a recession"

Jul 10, 2023 Marketplace

Justin Wolfers, Marketplace: Downbeat indicators don’t tell the whole story. Take consumers, said Justin Wolfers, an economics professor at the University of Michigan. They might say they’re pessimistic about the economy. “But if you look at what...

News

Detroit's 16% unemployment rate driven by labor force rebounders - DMACS study

Jun 30, 2023

Sixteen percent of Detroit residents in the labor force were unemployed as of March 2023, according to the latest survey from the University of Michigan's Detroit Metro Area Communities Study. The latest unemployment estimate essentially holds...

News

The debt limit and avoiding a recession – Wolfers comments across the media

May 31, 2023

Ford School economics professor Justin Wolfers has been saying that a recession does not seem likely, given continuing strong employment numbers. The threat of a default, on the other hand, could have been disastrous. Here are some excerpts of his...

News

Betsey Stevenson’s wide-ranging economic commentary widely sought

May 29, 2023

In the run-up to conclusion of the debt ceiling negotiations, Ford School economics professor Betsey Stevenson was widely sought out for her expertise on the implications of the crisis, as well as the various signals from the U.S. economy on...

News

March Jobs Report: Strong, if slowing, labor market continues as Black unemployment falls to a record low

Apr 9, 2023

In March, employers added 236,000 jobs as the economy continued to expand. Job growth is slowing, with most job growth in the past month occurring in the sectors that have been the slowest to recover from the pandemic. The unemployment rate ticked...

In the Media

Unemployment benefits are “the most arcane and complicated” government program - Shaefer

Apr 6, 2023 NPR Marketplace

Luke Shaefer, NPR Marketplace: "There is undoubtedly a set of people who actually are eligible for benefits and should be getting...

Photo of Luke Shaefer in the Ford School's Towsley Reading Room

In the Media

Stevenson breaks down job growth across different sectors

Apr 4, 2023 CNBC

Betsey Stevenson, CNBC: "What we've been seeing is a massive reallocation of workers. First, we expanded how much stuff we were buying, so the goods sector just did remarkably well early on in the pandemic. And it was the service sector that got...

In the Media

Economy is 'extraordinary' - Wolfers

Mar 12, 2023 WDIV

Justin Wolfers, WDIV: "My summary is what a little ripper. Last month, we were extraordinary. So we aren't extraordinary two months in a row, we're merely very good. This is the sort of job growth that maybe we've gotten used to over the past couple...

In the Media

Wolfers remains optimistic about economy

Mar 10, 2023 BBC

Justin Wolfers, BBC: "The best forecast for the future state of the economy is the current state and the current state is good. There's a recessionary vibe, but there's no recessionary...

News

Wolfers optimistic about soft landing for economy

Feb 17, 2023

As concerns about the economy continue, one economist is optimistic. Justin Wolfers, professor of public policy and economics, recently talked with NPR to discuss his economic analysis and predictions. "You're talking to an economist who is going...

In the Media

Wolfers celebrates low unemployment rate

Feb 10, 2023 NPR

Justin Wolfers, NPR: "We're celebrating unemployment being at a 50-year low. This is only three years after the scariest economic moment of my lifetime. If you had said in three short years we'll yield an unemployment rate that earlier generations...

In the Media

Stevenson describes struggles of restaurant industry to find workers

Feb 3, 2023 Washington Post

Betsey Stevenson, Washington Post: "There's this reshuffling going on that is explaining why lots of industries can't find workers. Their workers have left to go somewhere...

News

January jobs report shows exceptionally strong labor market, U-M economists say

Feb 3, 2023

Employers added 517,000 jobs in January 2023, capping a year marked by record-low unemployment and high job growth. The unemployment rate fell to 3.4%, a low last seen in 1969, according to new data released today by the Bureau of Labor...

Photo of a computer screen displaying an online listing of job ads

In the Media

Is the economy good? Wolfers says yes

Feb 3, 2023 Vox

Justin Wolfers, Vox: "If you want a dramatic one-word answer, the answer is yes. Unemployment’s at a 50-year low, that’s the standard metric for thinking about how the economy is performing. Job growth is continuing, so it’s not only good, it’s...

In the Media

Stevenson explains tech layoffs

Jan 27, 2023 Yahoo! News

Betsey Stevenson, Yahoo! News: "They hired for magical thinking. So what they're having to do right now is readjust for reality. As you've already shown, the layoffs we're seeing here are small compared to not just the hiring they did during 2020...

In the Media

Stevenson interprets slow job growth

Jan 18, 2023 The Independent

Betsey Stevenson, The Independent: "We can’t add jobs by lowering the unemployment rate any...

Photo of Betsey Stevenson leading a class

In the Media

Stevenson breaks down last jobs report of 2022 on Bloomberg

Jan 6, 2023 Bloomberg

Betsey Stevenson, Bloomberg: "It's a very strong jobs report. What we saw was ongoing job growth. 2021 was the strongest year of job growth we've ever had, and 2022 came in there as the second. We did see some slowdown as the year continued but even...

In the Media

Stevenson breaks down tech layoffs

Dec 12, 2022 NPR Consider This

Betsey Stevenson, NPR Consider This: "I do not think it's indicative of a sector that's struggling. I think it's indicative of a sector that had gangbuster growth over the last couple years and maybe got a bit ahead of its skis thinking that that...

Publication

75% of unemployed Detroiters expect to return to work soon as unemployment rate drops

Dec 11, 2022

As more Detroiters return to work amid the pandemic recovery, the greatest declines in unemployment have been for residents of color and people with low incomes—although those groups continue to experience higher-than-average unemployment...

News

Stevenson breaks down latest jobs report data

Dec 5, 2022

In addition to providing BLS Monthly Jobs Report Rapid Insights, Betsey Stevenson, professor of economics and public policy, has lent her expertise to numerous media outlets to break down the latest jobs report. Here's what she had to say about the...

Publication

November jobs report: Strong job growth continues, but there are hints of weakness

Dec 2, 2022

The U.S. labor market had yet another month of strong job growth, with employers adding 263,000 additional jobs in November. The report from the Bureau of Labor Statistics released Friday also showed that the unemployment rate remained at 3.7%....

In the Media

Wolfers discusses tech layoffs

Nov 17, 2022 Washington Post

Justin Wolfers, Washington Post: "That amounts to about one-third of 1 percent of the total separations in a month. Large numbers of separations are actually the norm in the U.S. economy. I think that there is a tendency for the human brain to look...

News

Wolfers provides expertise on current state of economy

Sep 9, 2022

Justin Wolfers, professor of public policy and economics, has made numerous appearances in the media recently, providing his expertise on the current state of our economy. Here is a compilation of his recent contributions: 'Both a warning and a...

News

Stevenson on jobs, inflation, and the search for the Goldilocks economy

Jun 6, 2022

Ford School economics professor Betsey Stevenson was widely sought after for analysis after a strong monthly jobs report. Here are some excerpts of her appearances: Taming Inflation, CBS Face the Nation, June 5, 2022 It's important to realize...

News

Stevenson balances inflationary pressure and employment in media commentary

Jun 3, 2022

The U.S. inflation rate continues to be at the highest levels in years, and the Fed has indicated it will raise interest rates to dampen those numbers. But taking action against inflation could hurt employment numbers, just when people are returning...

News

Wolfers and Stevenson comment on jobs and inflation

May 6, 2022

Inflation has been as high as 8.5% in recent months, and despite other positive economic factors, CNN reports that President Joe Biden may be “close to the point of no return with Americans on the economy.” Ford School economics professor Justin...

In the Media

Wolfers weighs in on Biden's approval ratings

Apr 16, 2022 Los Angeles Times

Despite low unemployment and rising wages, inflation is causing President Biden to struggle with low approval ratings. Justin Wolfers, professor of public policy and economics, discussed how he would frame the economy to raise approval...

News

Stevenson and Wolfers discuss latest jobs report

Apr 4, 2022

The labor market is still booming, according to the latest jobs report. Justin Wolfers and Betsey Stevenson, both professors of public policy and economics, broke down what the jobs report means for Americans. "I do think it more likely that the...