Okun's Law

The Federal Reserve Bank of St. Louis has just released its most recent issue of International Economic Trends. The cover essay is a clean, concise explanation of the relationship between changes in gross domestic product and unemployment, often referred to as Okun's Law after the economist Arthur Okun who first observed the empirical relationship.

It's a quick read and worth your time. It may even be something to keep in your electronic filing system. As always, the whole issue of International Economic Trends is full of well-presented data for anyone interested in teaching international economics. If you're not already subscribed (it's free), you should be.

I welcome your comments.