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Four Critical Analyses of Articles from Economic Journal - Book Report/Review Example

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The paper "Four Critical Analyses of Articles from Economic Journal" discusses that Casselman argues that the US has added around 3.7 million jobs after February 2010 at the average rate of 134,000 per month and in past six months the average addition of jobs has been 197,000 per month. …
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Four Critical Analyses of Articles from Economic Journal
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Download file to see previous pages The broader unemployment rate takes into account everyone including those who say they need the job. Also included are the people who have been working part-time for their own reasons. Critical Analysis There is no definite sign of real improvement in the unemployment rate in the US. The writer argues that though the unemployment data suggest that the unemployment rate has dropped by 8 per cent but in reality, it is not. That can be noticed by the data that speak about the broader measure of the unemployment rate and that has remained unchanged at 14.5%. The economy is still not in a positive territory. The reduction in the unemployment rate is a good measure of improved economic condition but that does not seem to be forthcoming and the job seekers are desperately waiting for the time so that they could have meaningful employment of their choice. That is evident from the fact that the number of workers involved in part-time jobs has been now turning to the full-time workers. Critical Question The most critical question raised in this article is that the US is still facing unemployment issue at large though there is some sign of improvement. Article: Economists Warn of Long-Term Perils in Rescue of Europe’s Banks Summary Ewing forewarns in 'The New York Times' that the situation is being created of another banking crisis by providing cheap credits to the sick banks. Quoting Charles Wyplosz, a renowned professor of economics, the writer states that it will be a big miracle if ECB could pull off Europe from the current crisis. If the action fails to correct the situation, it may create a much worse situation for complete banking sectors. The European Central Bank provided loans to commercial banks at meager 1% interest rate and that is too for a long three years' period. Banks were allowed to borrow as much as they needed by posting collateral. On this opportunity, banks collectively borrowed some 489 billion of Euros which amounts to $647 billion. To facilitate smaller banks, the Central Bank even loosened its rules of providing collaterals so that banks could garner cheap credits on more easy terms. Critical Analysis Many weak banks in Europe have been saved off or given a breather by the European Central Bank by providing cheap credit to them. Time being, it might arrest further economic downturn. The noteworthy point is that the credit has been made available to them for the duration of three years giving them ample time to readjust their strategies. In Europe, banks are the major source of credit and not the capital markets and in this context central bank’s initiative may help restore the health of the economy in Europe. The intention of the central bank is to put the economy of the European Union back on track and raise the confidence level of the businesses and the investors. Borrowing any amount at 1 per cent against collateral will give banks enough business opportunity including buying bonds to earn higher returns and that is certainly a good deal for them. ...Download file to see next pagesRead More
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