Saturday, June 18, 2011
In an article on structural unemployment, Robert Samuelson writes that “one puzzle of this somber economy is the existence of unfilled jobs in the midst of mass unemployment. You might think (I did) that with almost 14 million Americans unemployed — and nearly half those for more than six months — companies could fill almost any opening quickly. Not so. Somehow, there’s a mismatch between idle workers and open jobs. Economist Prakash Loungani of the IMF estimates that 25% of unemployment is structural; that’s more than 3 million jobs.” Read the full article at the Washington Post.
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