From the TUC

Youth unemployment, now vs the 80s

15 Dec 2009, by in Economics

I’ve written a guest post at Left Foot Forward today – looking at what is happening with youth unemployment now compared to the 1980s.

As our press release today showed, while young people’s prospects are poor now, they have been much worse. In 1984 there were over 2 million young people not in work or training several years after the recession had finished.

We think the lesson is clear – if current investment in tackling unemployment was cut we could be looking at a repeat of this social disaster.

Read “1980s recession was worse for young people” on Left Foot Forward

2 Responses to Youth unemployment, now vs the 80s

  1. Tweets that mention Youth unemployment, now vs the 80s | ToUChstone blog: A public policy blog from the TUC — Topsy.com
    Dec 15th 2009, 8:30 pm

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  2. Pete Murphy
    Dec 16th 2009, 3:20 pm

    Unemployment, both in the U.S. and the world as a whole, marches ever higher because the field of economics doesn’t account for the relationship between population density and per capita consumption.

    Following the beating the field of economics took over the seeming failure of Malthus’ theory, economists adamantly refuse to ever again consider the effects of population growth. If they did, they might come to understand that once an optimum population density is breached, further over-crowding begins to erode per capita consumption and, consequently, per capita employment.

    And these effects of an excessive population density are actually imported when a nation like the U.S. attempts to trade freely with other nations much more densely populated – nations like China, Japan, Germany, Korea and a host of others. The result is an automatic trade deficit and loss of jobs – tantamount to economic suicide.

    Using 2006 data, an in-depth analysis reveals that, of our top twenty per capita trade deficits in manufactured goods (the trade deficit divided by the population of the country in question), eighteen are with nations much more densely populated than our own. Even more revealing, if the nations of the world are divided equally around the median population density, the U.S. had a trade surplus in manufactured goods of $17 billion with the half of nations below the median population density. With the half above the median, we had a $480 billion deficit!

    If you‘re interested in learning more about this important new economic theory, then I invite you to visit my web site at http://PeteMurphy.wordpress.com.

    Pete Murphy
    Author, “Five Short Blasts”