PLENTY OF SLACK IN THE LABOR MARKET! Matt O’Brien of the Washington Posts Wonkblog writes that “theres plenty of slack left in the labor market. He describes the part-time and long-term unemployed. Then he adds finally, there are the shadow unemployed, who have given up looking but would take a job if they could find one. Plenty-of-slack-left equals a much weaker economy than the headline 6.1 percent unemployment rate suggests. And its why wage growth has stayed so weak even though things have started to pick up a bit. Mr. O’Briens conclusion is: The depressing lesson might be that theres a high cost to letting the short-term unemployed become long-term unemployed and then shadow unemployed. That cost is careers lost, forever.” washingtonpost/blogs/wonkblog/wp/2014/07/15/will-the-long-term-and-shadow-unemployed-ever-come-back/
Posted on: Thu, 17 Jul 2014 18:06:13 +0000
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