Monday, July 06, 2009

David Wessel, economics editor of The Wall Street Journal, a regular commentator on NPR’s Morning Edition, and author of the forthcoming book In FED We Trust: Ben Bernanke's War on the Great Panic, talks about if we should be surprised by the new unemployment figures and if he expects the jobless rates to continue to climb in the coming months.


David Wessel

Comments [9]

Eugenia Renskoff from Williamsburgh, Brooklyn

Hello, I have been unemployed for a long time. I also have good skills like the people who have left comments here and the listeners who spoke on the air today. After my foreclosure, everything seemed to go wrong.

Jul. 06 2009 04:31 PM
hjs from 11211

not many posts on this topic. could it be the NYC economy is not as bad as some say?

Jul. 06 2009 11:59 AM
Hugh from Brookyn

Several points about unemployment that David Wessel *must* know, but as a WSJ figure, may feel compelled to misrepresent:

1. The Federal government DID NOT tally employment/unemployment numbers in the 1930s. FACT.

2. Real unemployment is HIGHER than widely acknowledged. Any decent economist will readily acknowledge this. Moreover, the Bureau of Labor Statistics publishes several stats on unemployment.

3. In the past 25 years, the president has twice revised the definition of unemployment to artificially 'lower' the numbers. Reagan did so in the early 80s. Clinton did so during his term. FACT.

None of the above 3 points ever gets mentioned on NPR and rarely in The New York Times or other mainstream media outlets.

Jul. 06 2009 11:57 AM
Christopher Deignan from Middle Village

Laid off in January as a graphic designer and it's a mixed blessing is a way as I wasn't very happy in my job. I'd love to work in the not for profit sector and have done a fair bit of volunteer work over the last 20 years, including concert promotion, youth mentoring and working with the elderly. Is this starting to sound like a cover letter :)

Love your show, one of the key cultural veins that pulse through the city.

When are we marching on Albany to get those bums out? What a bunch of irresponsible idiots? They need to remember that we elected them to serve us, not disgust and amuse us.

Jul. 06 2009 11:37 AM

My sister just got laid off from a fashion industry job last week. As for me I'm still looking for that first "real" job after graduating in 2008.

Jul. 06 2009 11:33 AM
Alex from New York City

I just wanted to mention that although I have not lost my job I think it would be worthwhile to explore those who have not lost their job. I think in many cases including my own, with all the layoffs my workplace has become almost unbearable. I know it's almost insulting to complain about a job when others don't have one but I think its still important to examine the new work environment created by this economic downturn.

Jul. 06 2009 11:14 AM
antonio from park slope

I have been out of work since February. However I have had a few freelance jobs that basically covered two months of work..
I am a graphic designer currently trying to get my web skills up to the levels of my print skills..

Jul. 06 2009 11:10 AM
Amanda from NYC

I was laid off from a GREAT job in the creative department of a large NYC advertising agency in May. I am rapidly learning that the phrase: "You don't have enough interactive work in your portfolio" is a euphemism for you're too old/female. I'm extremely lucky because my husband's job is secure - so insurance is covered. But it's been an adjustment to losing 65% of our income.

Jul. 06 2009 11:00 AM
Marissa from Manhattan, NY

On the upside; though I have about a dozen friends who are unemployed (mostly architects), two of my friends (in the tech industry) found new jobs last month after being unemployed for 6 months.
The architects still need help though; the AIA (American Institute of Architects) sent out a newsletter to its members last week suggesting that unemployed architects should become high school drafting teachers. That's what a 5 year professional degree, 3 years of internship, and 9 licensing exams will get you these days: highly overqualified drafting teachers.

Jul. 06 2009 10:55 AM

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