{"id":10747,"date":"2012-03-31T19:10:41","date_gmt":"2012-03-31T23:10:41","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=10747"},"modified":"2012-03-31T19:10:41","modified_gmt":"2012-03-31T23:10:41","slug":"bernanke-describes-juncture-where-economic-prospects-pivot-on-long-term-unemployment","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2012\/03\/31\/bernanke-describes-juncture-where-economic-prospects-pivot-on-long-term-unemployment\/","title":{"rendered":"Bernanke Describes A Critical Juncture Where Economic Prospects Pivot On Long-Term Unemployment"},"content":{"rendered":"<p><strong>(This is an excerpt from an article I originally published on Seeking Alpha on March 27, 2012. <a href=\"http:\/\/seekingalpha.com\/article\/459591-bernanke-describes-a-critical-juncture-where-economic-prospects-pivot-on-long-term-unemployment\" target=\"_blank\">Click here to read the entire piece<\/a>.)<\/strong><\/p>\n<p>As conditions ripen for <a href=\"http:\/\/seekingalpha.com\/article\/319374-time-to-buy-the-dips-in-homebuilders\" target=\"_blank\">a bottom in housing in 2013<\/a>, I am more frequently reviewing the on-going dynamics of the unfolding recovery in employment. The rates of unemployment and under-employment, and the wages available from employment, are the biggest wildcards in the presumed housing recovery scenario. Accordingly, I was fascinated by Federal Reserve Chairman Ben Bernanke&#8217;s extensive discussion on unemployment in &#8220;<a href=\"http:\/\/www.federalreserve.gov\/newsevents\/speech\/bernanke20120326a.htm\" target=\"_blank\">Recent Developments in the Labor Market<\/a>&#8221; at the National Association for Business Economics Annual Conference in Washington, D.C. (March 26, 2012). <\/p>\n<p>This speech touched on some familiar themes and points. {snip}<\/p>\n<p>Despite my general reservations about the Federal Reserve and its policies, I am encouraged by Bernanke&#8217;s laser focus on the problem of unemployment (especially as <a href=\"http:\/\/www.drduru.com\/money\/090508_DrDuruLaggingIndicator.htm\" target=\"_blank\">someone who has been there<\/a>!). Addressing unemployment in so many other halls of government is stubbornly tainted with the non-winnable ideological struggles of politicians jostling for advantage over one another. Bernanke is free to speak from the data and offer alternative explanations for consideration. {snip}<\/p>\n<p>{snip}<\/p>\n<p>In other words, the longer-term health of the economy is at risk if high levels of long-term unemployment persist for much longer. <\/p>\n<p>Bernanke believes that the employment problem is still cyclical and not yet structural:<\/p>\n<p>{snip}<\/p>\n<p>{snip}<\/p>\n<p>Until then, be careful out there!<\/p>\n<p><strong>(This is an excerpt from an article I originally published on Seeking Alpha on March 27, 2012. <a href=\"http:\/\/seekingalpha.com\/article\/459591-bernanke-describes-a-critical-juncture-where-economic-prospects-pivot-on-long-term-unemployment\" target=\"_blank\">Click here to read the entire piece<\/a>.)<\/strong><\/p>\n<p>Full disclosure: no positions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(This is an excerpt from an article I originally published on Seeking Alpha on March 27, 2012. Click here to read the entire piece.) As conditions ripen for a bottom in housing in 2013, I am more frequently reviewing the on-going dynamics of the unfolding recovery in employment. The rates of unemployment and under-employment, and &#8230; <a title=\"Bernanke Describes A Critical Juncture Where Economic Prospects Pivot On Long-Term Unemployment\" class=\"read-more\" href=\"https:\/\/drduru.com\/onetwentytwo\/2012\/03\/31\/bernanke-describes-juncture-where-economic-prospects-pivot-on-long-term-unemployment\/\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[59,58],"tags":[197],"class_list":["post-10747","post","type-post","status-publish","format-standard","hentry","category-economy","category-federal-reserve","tag-unemployment"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bernanke Describes A Critical Juncture Where Economic Prospects Pivot On Long-Term Unemployment - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2012\/03\/31\/bernanke-describes-juncture-where-economic-prospects-pivot-on-long-term-unemployment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bernanke Describes A Critical Juncture Where Economic Prospects Pivot On Long-Term Unemployment - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"(This is an excerpt from an article I originally published on Seeking Alpha on March 27, 2012. 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