Unemployment and the Foundations of Aggregate Supply
Unemployment: High In Europe, Low in America While American unemployment rates fell to unusually low levels in the late I99Os. European unemployment rose sharPly over the last three decades. Figure 31-10 on page 679 shows the unemployment history in the two...
Unemployment and the Foundations of Aggregate Supply
Teenage Unemployment of Minority Groups While most evidence suggests that unemployment is largely frictional for white teenagers, the labor market for young African-American workers has behaved quite differently. For the first decade after World War II, the...
Unemployment and the Foundations of Aggregate Supply
Unemployment by Age How does unemployment vary over the life cycle? Teenagers generally have the highest unemployment rate of any demographic group, and nonwhite teenagers in recent years have experienced renouncement rates between 30 and 50 percent. Is...
Unemployment and the Foundations of Aggregate Supply
Sources of Joblessness Why are people unemployed? Figure 31-8 shows how people responded when asked the source of their unemployment, looking at the recession year of 1982 and the high employment year of 1999. There is always some frictional unemployment that results...
Unemployment and the Foundations of Aggregate Supply
Duration of Unemployment Another key question concerns duration. How much of the unemployment experience is long term and of major social concern, and how much is short term as people move quickly between jobs? Figure 31-7 shows the duration of unemployment . in...
Unemployment and the Foundations of Aggregate Supply
Who Are the Unemployed We can diagnose labor market conditions ‘by comparing years in which output is above its potential (of which 1999-2000 was a recent period) with those of deep recessions (such as was seen in 1982), Differences between these years show how...
