Akerlof developed a new way to understand unemployment by looking at how different types of workers affect the job market. He found that when wages are unfair, some workers can't find jobs even if they're willing to work for free. This leads to involuntary unemployment, especially for inexperienced workers. The effort workers put into their jobs is influenced by how much they're paid, which affects how many workers companies hire. In a two-tier job market, unskilled workers struggle to find work when jobs are scarce, even if they're willing to work for no pay.