The jobs market will probably start improving soon, but not enough to significantly reduce the unemployment rate.
This will reduce the unemployment rate and cause an increase in government revenue as more people pay into the system.
At a time when there are four applicants for every job opening, increased motivation among job seekers is unlikely to significantly reduce the unemployment rate.
Meanwhile, U.S. employers added 155, 000 jobs in December, but the growth wasn't enough to reduce the unemployment rate, which remained 7.8 percent last month, the Labor Department said Friday.
The job cuts will be a further blow to French President Francois Hollande, who came to power on a promise to bolster manufacturing and reduce the unemployment rate, now approaching a 13-year high.
What strikes me the most is that neither the Nobel Prize winner nor the Chairman of the Federal Reserve had the sagacity to completely repudiate the idea that inflation can in any way reduce the unemployment rate.
Since these men are more likely to be unemployed than the typical worker, they reduce the structural unemployment rate by being in prison and out of the workforce.
Federal Reserve Chairman Ben Bernanke told the Senate Budget Committee the economic recovery is likely to be "moderately stronger" in 2011 than it was in 2010, but still insufficient to reduce the rate of unemployment significantly.
It also wants to turn some fallow or confiscated land over to landless people, as a way to reduce Colombia's high unemployment rate.
Payroll employment continues to slump, far below the level needed to accommodate new labor-force entrants, much less reduce the 8.2% unemployment rate.
"At the end of the day, government can't do it alone, business and government have to collaborate so that we can reduce the jobless rate, bring unemployment down, start increasing a much more inclusive society, " Kent said.
If you are persuaded that productivity thrives with a lower marginal tax rate, you will agree this approach can help grow the economy and reduce unemployment.
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