A license to… shampoo?

Some occupations require people to obtain a license before they can work in that profession. Is this good for society? Let’s take a look. What is occupational licensing? An occupational license represents government permission to work in a certain profession. In some cases, permission is granted by a separate, government-approved body. Licensing laws vary, but … Continue reading A license to… shampoo?

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Lessons learned on wages

Over the past few months, we’ve seen some good news about employee wages. There are lessons to learn from this. The good news First, let’s take a look at the good news: (1) The average hourly wage increased in January at a 2.9% rate. Although that’s not great, it’s the highest since mid-2009. (2) The … Continue reading Lessons learned on wages

Has unemployment dropped enough since the Great Recession?

US unemployment shot up sharply during the Great Recession of 2008-2009. Since then, it has dropped back to more normal levels. Is unemployment now low enough? Let’s look at some facts. Multiple unemployment metrics The unemployment rate is defined as the percentage of the overall labor force that is jobless. Simple enough, right? Not really. … Continue reading Has unemployment dropped enough since the Great Recession?