The Various Forms of Unemployment

Mark R. Reiff

Chapter Chapter 1 in On Unemployment, 2015, pp 21-32 from Palgrave Macmillan

Abstract: Abstract There are many different senses in which the terms “employment” and “unem- ployment” can be used. It is important to recognize that full employment, which is what I shall be arguing justice requires here, does not mean an unemployment rate of zero. The labor market is dynamic, not static, so the rate of people entering and leaving the employment pool will usually not sum to zero—there will always be people looking for different jobs or better ones; some skills and the people who have them will become less marketable as a result of technological or cultural change while other skills and the people who have them will become more marketable. Every economy must leave room for such shifts in the demographics of employment to occur if it is to function smoothly and be able to reallocate labor efficiently and as needed by the development of new technologies. Efforts to reduce unemployment will accordingly always aim to allow some frictional unemployment to remain.1

Keywords: Labor Market; Unemployment Rate; Business Cycle; Moral Obligation; Natural Rate (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-55000-2_2

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137550002

DOI: 10.1007/978-1-137-55000-2_2

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().