On Oct 25, 2011, at 8:52 AM, SA wrote:
> On 10/25/2011 8:38 AM, Doug Henwood wrote:
>
>> NEW MEASURES OF THE COSTS OF UNEMPLOYMENT: EVIDENCE FROM THE SUBJECTIVE WELL-BEING OF 2.3 MILLION AMERICANS John F. Helliwell Haifang Huang Working Paper 16829 http://www.nber.org/papers/w16829 ,,,
>
> Or, if you just want a factoid:
>
> https://www.ssc.wisc.edu/econ/Durlauf/networkweb1/London/frustratedachievers.pdf
>
>> Blanchflower and Oswald find that in most
>> countries in Europe and in the U.S.—including those where unemployment benefits are very
>> generous—being unemployed is equivalent in what they call “life dissatisfaction units” to
>> dropping from the top to the bottom income quartile.
What was new about the paper I quoted from is that rises in general unemployment also hurt people, including the employed.