Health Professions
4 years ago

Unemployment hits record lows due to declining entry rates, not job growth.

RePEc: Research Papers in Economics
Why Is Current Unemployment So Low
Andreas Hornstein, Marianna Kudlyak

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2 views

The current low unemployment rate is not due to more people finding jobs quickly, but because fewer people are entering unemployment. This trend has been going on for a while and has brought down the overall unemployment rate over the past decade. The difference in unemployment rates between now and previous peaks in 2000 and 2007 is mainly due to this downward trend, not because the job market is tighter now.