10% unemployment yet every startup in NYC struggling to hire

Re:10% unemployment yet every startup in NYC struggling to hire by charlesju on Sunday December 12, 2010 @06:35PM (#1998492)

http://twitter.com/#!/charlesju/status/10722704009199617

High School dropouts are 15.7% unemployed. College grads are at 5.1%, basically full employment given job changes. http://bit.ly/3FWnbX

[ Parent | on HN ]

Re:10% unemployment yet every startup in NYC struggling to hire by phil on Sunday December 12, 2010 @11:01PM (#1999252)

That's not "basically full employment" -- it's the highest unemployment rate among college grads in the last 2 decades.

Here's a BLS report that shows that more clearly: http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?request_...

[ Parent | on HN ]

Re:10% unemployment yet every startup in NYC struggling to hire by charlesju on Monday December 13, 2010 @12:40AM (#1999482)

http://en.wikipedia.org/wiki/Full_employment

"The idea that the full-employment unemployment rate (NAIRU) is not a unique number has been seen in recent empirical research. Staiger, Stock, and Watson found that the range of possible values of the NAIRU (from 4.3 to 7.3% unemployment) was too large to be useful to macroeconomic policy-makers. Robert Eisner suggested that for 1956-95 there was a zone from about 5% to about 10% unemployment between the low-unemployment realm of accelerating inflation and the high-unemployment realm of disinflation. In between, he found that inflation falls with falling unemployment."

[ Parent | on HN ]

Re:10% unemployment yet every startup in NYC struggling to hire by achompas on Monday December 13, 2010 @09:59AM (#2000623)

You can't take the American labor force's NAIRU and apply it to college grads--historically, they have lower unemployment.

[ Parent | on HN ]