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The 5% rotates by definition if anybody is hired or fired, as will always be the case. 5% unemployment is never going to represent 5% of the workforce being pe
by adam_arthur 4y ago
The 5% rotates by definition if anybody is hired or fired, as will always be the case.
5% unemployment is never going to represent 5% of the workforce being perpetually unemployed, as many sob stories try to implicitly portray it as.
If an individual is perpetually unemployable, then it doesn’t matter if unemployment is 5% or 1%, they aren’t getting hired anyway
- deleted 4y ago[deleted]
- dragonwriter 4y ago> The 5% rotates by definition if anybody is hired or fired, as will always be the case. No, it doesn’t rotate “by definition”, and the rate isn’t a constant, it is a point-in-time estimate. If there is both hiring and firing going on that isn’t at the edges of the work force some portion of the 5% is transitorily unemployed, but that could be a very large or very small portion, or anything in between.