US Faces Recurrent Unemployment Crisis Due to Unfinished Business Cycles
The article discusses why it's hard to maintain low unemployment rates for a long time in the US. The researchers suggest that economic expansions often end too soon, leading to high unemployment again. They believe that the labor market takes too long to recover fully, causing recessions to start before reaching full employment. This has implications for how we understand job availability and the economy's potential. The researchers recommend focusing on faster recoveries and avoiding imbalances to prevent future crises.