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That is, unemployment insurance could create longer or more frequent episodes of unemployment than would otherwise occur. This could occur if workers partially cushioned against periods of unemployment are more likely to accept jobs that have a higher risk of unemployment, or spend more time searching for a new job after becoming unemployed. [76]
A jobless recovery or jobless growth is an economic phenomenon in which a macroeconomy experiences growth while maintaining or decreasing its level of employment. The term was coined by the economist Nick Perna in the early 1990s.
In this equation, represents the number of unemployed job seekers in the economy at a given time , and is the number of vacant jobs firms are trying to fill. The number of new relationships (matches) created (per unit of time) is given by m t {\displaystyle \,m_{t}\,} .
The outsiders (unemployed) become increasingly less relevant in the bargain. [5] Because insiders commonly use their position of power to dissuade outsiders from underbidding their current wage. The result is a labor market that does not see any wage underbidding despite the willingness of many unemployed workers to work at a lower wage. [3]
There are many domestic factors affecting the U.S. labor force and employment levels. These include: economic growth; cyclical and structural factors; demographics; education and training; innovation; labor unions; and industry consolidation [2] In addition to macroeconomic and individual firm-related factors, there are individual-related factors that influence the risk of unemployment.
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Super Bowl Sunday is just around the corner, quickly followed by an infamous workplace phenomenon: the “Super Bowl flu.” That’s the unofficial term for when a legion of workers call out sick ...
Natural rate of unemployment (also known as full employment) – This is the summation of frictional and structural unemployment, that excludes cyclical contributions of unemployment (e.g. recessions) and seasonal unemployment. It is the lowest rate of unemployment that a stable economy can expect to achieve, given that some frictional and ...