Do you know what NAIRU stands for?
The Non-Accelerating Inflation Rate of Unemployment.
I.e. the MINIMIM number of people a society REQUIRES to be unemployed in order to keep the economy from overheating and keep inflation under control.
Do you know what NAIRU stands for?
The Non-Accelerating Inflation Rate of Unemployment.
I.e. the MINIMIM number of people a society REQUIRES to be unemployed in order to keep the economy from overheating and keep inflation under control.
The unemployment in 'ideal' unemployment means people who want, or need, to have paying work. Not people who don't need to work because they have other income.
So 4-5% living off only government assistance, no other income, is 'ideal' according to mainstream economic policy
The unemployment in 'ideal' unemployment means people who want, or need, to have paying work. Not people who don't need to work because they have other income.
So 4-5% living off only government assistance, no other income, is 'ideal' according to mainstream economic policy
Try not to miss me too much 😉
Try not to miss me too much 😉