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March 14, 2007



"in any one month, over 3% of workers lose their jobs"

What is the percentage of people changing jobs?

"If we had a proper free market economy - one that worked to benefit the poor and vulnerable - traders would be nursing fewer losses today."

Surely a free market should not benefit any particular group?


Yes, one's mortgage does not become unviable if one simply moves from one job to another.

Mark Wadsworth

Does "lose" include just redundancies or does it inlcude retirement, sacking and job changing? 3% seems a bit on the high side, unless of course you include retirement, in which case it seems on the low side.


There are 10 factors that will contribute to a recession in 2007.



The 3% refers to Robert Shimer's figure for the proportion moving from employment to unemployment; figure 2.3 in Hall's pdf, fig 1 is Shimer's.

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