Evaluating U.S. Unemployment Data
Measuring Technological Impact On Employment
Introduction An economic concept known as Okun’s Law—which explains the relationship between rates of unemployment and GDP growth—has held true for all US economic downturns and recoveries since 1948. However, we discovered a major discrepancy for the recovery period after the Great Recession of 2008, where Okun’s Law failed to explain the drop in the …
Evidence for Chinese Economic Recession
Introduction An economic concept known as Okun’s Law—which explains the relationship between rates of unemployment and GDP growth—has held true for all US economic downturns and recoveries since 1948. However, we discovered a major discrepancy for the recovery period after the Great Recession of 2008, where Okun’s Law failed to explain the drop in the …