William Dickens

now hiring sign on a Sonic Restaurant sign

Here’s why the US labor shortage may not be such a bad thing

The latest jobs reports in the United States present a puzzling fact: Millions of people remain unemployed even as many employers complain of worker shortage. So, what’s going on? Would-be employees are in prime position to bargain for better wages and working conditions, say Northeastern economics scholars.

by Molly Callahan June 22, 2021

President Donald Trump walks out to begin a news conference at the White House, Sunday, Sept. 27, 2020, in Washington. AP Photo/Carolyn Kaster

Have a problem with Trump’s low income tax? Blame the tax code.

An explosive New York Times investigation reveals that Donald Trump paid only $750 in federal income taxes in 2016 and 2017. William Dickens, university distinguished professor of economics and social policy at Northeastern, says that while he sees some “questionable deductions” outlined in the Times report, “more generally, Trump is just benefiting from a lot of legal deductions.”

by Molly Callahan September 28, 2020

Millions of U.S. citizens who are out of work because of the COVID-19 pandemic have come to rely on a federal boost to the unemployment benefit that now hangs in limbo. Cutting it permanently could spell disaster for the country’s economy, says Northeastern economics professor William Dickens. AP Photo by Nam Y. Huh

Here’s what could happen if the US suspends federal pandemic unemployment benefits

Members of Congress are locked in a stalemate over the details of another economic stimulus package for people and businesses affected by the COVID-19 pandemic. Hanging in limbo is a $600-per-week COVID unemployment benefit that millions of people in the U.S. had come to rely upon. Cutting it permanently could spell disaster for the country’s economy, says Northeastern economics professor William Dickens.

by Molly Callahan August 7, 2020

A national coin shortage is the latest consequence of the COVID-19 pandemic in the U.S. Photo by Matthew Modoono/Northeastern University

An unexpected consequence of the COVID-19 pandemic? A national coin shortage.

As people find contactless ways to pay for goods, physical money—particularly coins—have become hard to come by. But the national coin shortage is more than an inconvenience; it has serious consequences for people who routinely pay in cash or don’t have access to a bank account, says William Dickens, university distinguished professor of economics and social policy.

by Molly Callahan July 17, 2020

Is a recession necessary to fight COVID-19?

A record 3.3 million people in the United States filed for unemployment last week. “We don’t want people to go back to work—that’s the whole point of ‘social distancing,’ of trying to bend the curve,” says William Dickens, University Distinguished Professor of economics and social policy.

by Laura Castañón and Tyler Machado March 26, 2020

President Donald Trump takes questions during a press conference on the third and final day of the G-7 summit in Biarritz, France Monday, Aug. 26, 2019. (AP Photo/Markus Schreiber)

What’s really at stake in the trade war between the US and China?

The tariffs that leaders in the United States and China imposed upon each other’s countries likely won’t have a huge effect on either economy, according to Northeastern economics professor William Dickens. But, he says, the underlying political brinkmanship could.

by Molly Callahan August 26, 2019

A Gautier Steel, LTD plant mill hand watches as a rolling flat bar passes by during a production run at the Johnstown, Pa. plant. Wednesday, November 8, 2017. AP Photo

Economist: Consumers wouldn't feel impact of tariffs in short term

The steep trade tariffs imposed by President Trump late last week likely won't affect U.S. consumers initially, according to Northeastern economics professor William Dickens. But some U.S. businesses and states could feel the sting in the longer term if trade wars break out with countries in Europe and Asia.

by Molly Callahan March 13, 2018

Janet Yellen, chair of the U.S. Federal Reserve System, delivers the opening statement during the Federal Open Market Committee press conference on March 15, 2017.

What the Fed rate hikes mean for the economy and your wallet

The Federal Reserve on Wednesday raised its benchmark interest rate by a quarter-point. We asked professor William Dickens, chair of Northeastern’s economics department, to weigh in on the Fed’s decision and what it means for average Americans, including students and young alumni.

by Greg St. Martin March 17, 2017

Specialist Frank Masiello wears a Dow 20,000 cap as he works on the floor of the New York Stock Exchange, Wednesday, Jan. 25, 2017. The Dow Jones industrial average is trading over 20,000 points for the first time, the latest milestone in a record-setting drive for the stock market. The market has been marching steadily higher since bottoming out in March 2009 in the aftermath of the financial crisis. (AP Photo/Richard Drew)

Record-setting Dow is good news, but more for peace of mind

On Wednesday, the Dow Jones industrial average closed above 20,000 for the first time ever. Though the high-water mark is good news from a financial perspective, our experts say that it’s more important psychologically than quantitatively.

by Molly Callahan January 27, 2017