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Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884 Exercise 1
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%.
Are the 5 million workers who cannot find jobs because of mismatching in the labor market counted as part of the economy's structural unemployment or part of its cyclical unemployment?
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%.
Are the 5 million workers who cannot find jobs because of mismatching in the labor market counted as part of the economy's structural unemployment or part of its cyclical unemployment?
Explanation
Verified
Verified
Even though these 5 million workers are ...
Macroeconomics 11th Edition by Michael Parkin
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