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Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884 Exercise 36
Use the following information to work Problem.
Some Firms Struggle to Hire Despite High Unemployment
Matching people with available jobs is always difficult after a recession as the economy remakes itself. But Labor Department data suggest the disconnect is particularly acute this time. Since the recovery began in mid-2009, the number of job openings has risen more than twice as fast as actual hires. If the job market were working normally, openings would be getting filled as they appear. Some five million more would be employed and the unemployment rate would be 6.8%, instead of 9.5%.
If the labor market is working properly, why would there be any unemployment at all?
Some Firms Struggle to Hire Despite High Unemployment
Matching people with available jobs is always difficult after a recession as the economy remakes itself. But Labor Department data suggest the disconnect is particularly acute this time. Since the recovery began in mid-2009, the number of job openings has risen more than twice as fast as actual hires. If the job market were working normally, openings would be getting filled as they appear. Some five million more would be employed and the unemployment rate would be 6.8%, instead of 9.5%.
If the labor market is working properly, why would there be any unemployment at all?
Explanation
Verified
Verified
Here, though the labour market is workin...
Macroeconomics 11th Edition by Michael Parkin
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