Hidden Unemployment?
Posted in Macroeconomics on Apr 1st, 2008
In many ways, today’s prevailing economic conditions are unusual given the signs of an economic slowdown. Interest rates are far below historical averages, real productivity growth remains strong, credit appears to be widely available – the “credit-crunch” notwithstanding, and the national unemployment rate is well below its post-WW II average. Is this low unemployment rate […]
