Tuesday, September 8, 2009
Why the Unemployment Rate Isn't Falling Anytime Soon
To continue discussing the unemployment rate, as we have been, I thought this article would provide insight about why the unemployment rate is so high. Namely, the unemployment rate has not risen so much because of job loss, but because people are having a harder time finding a job. This, and other facts, could help us make normative decisions about how to assist in lowering unemployment.
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This is a great article to post. It is a very chilling yet truthful article about what is actually still occuring within the labor force today. I thought it was very interesting to learn that one of the primary reasons that unemployment is rising is because not just the sharp rise in individuals seperations in jobs, but that once individuals are unemployed, their chance of finding another job has fallen dramatically. This means that unemployment durations are getting longer.
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