Unemployment

John Mills
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John Mills: John Mills Ltd

Chapter 4 in Exchange Rate Alignments, 2012, pp 66-81 from Palgrave Macmillan

Abstract: Abstract Since about 1970, an extraordinary change has taken place across much of the developed world. It has been the huge growth in unemployment, matched by the inability of policymakers to do anything effective to reverse it. Unemployment in the European Union has hovered close to 10 per cent for most of the last four decades and in September 2011 it stood at 10.2 per cent. Twenty-three million people in the EU were actively looking for jobs. 1 For much of the period since 1970, US unemployment has been lower than Europe’s, mainly because of its much harsher regime for those out of work. In October 2011, however, with 9.0 per cent of the labour force registered as being out of work, the US percentage had grown nearly as high as in the EU. 2

Keywords: Labour Force; Registered Unemployment; Effective Demand; Potential Labour Force; Advanced Western Country (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-02297-4_4

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DOI: 10.1057/9781137022974_4

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