Structural Unemployment’s Effects on the Economic Recovery

The unemployment rate coming out of the recession is still in the 9.7% range, and is expected to decline only slowly. One significant component of unemployment is structural unemployment, one example being that there are jobs that have been eliminated as some industries have shrunk, such as automobile manufacturing. Because of this, less worker mobility because of the housing crisis, and other factors, structural unemployment, which has decreased rapidly in other economic recoveries, may be much slower to decline in this one, putting a continued drag on consumer spending.

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