Unemployment in the United States: The Problem and a Proposal

Robert Haveman

Chapter 4 in Public Finance in a Changing World, 1998, pp 101-125 from Palgrave Macmillan

Abstract: Abstract The problem of unemployment among industrialized nations has important implications for the efficiency with which these economies are performing, and hence for economic growth and the well-being of citizens. It also contains the seeds of social instability. A recent volume addressing this issue described the problem and its implications as follows: While unemployment will ebb somewhat as countries recover from the recent global recession, millions are likely to remain jobless for a variety of structural reasons. Moreover, there is a disturbing trend in many industrialized countries toward long-term unemployment, especially among low-skilled workers. This trend has had less effect on measured unemployment in the United States than in Europe in part because U.S. workers have greater incentives to accept low-wage jobs. Nonetheless, virtually all industrial countries face a jobs problem that impairs living standards and threatens a breakdown in social cohesion.1

Keywords: Labour Market; Minimum Wage; Wage Rate; Wage Inequality; Market Wage (search for similar items in EconPapers)
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-14336-8_5

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DOI: 10.1007/978-1-349-14336-8_5

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