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Fact 21.2.1 Some Firms Struggle to Hire Despite High Unemployment
Matching people with available jobs is always difficult after a recession as the economy remakes itself. But labour market data suggest the disconnect is particularly acute this time. Since the recovery began, the number of job openings has risen more than twice as fast as actual hires. If the job market were working normally, openings would be getting filled as they appear. Some 5 million more would be employed and the unemployment rate would be 6.8%, instead of 9.5%.
Source: The Wall Street Journal, August 9, 2010
-Consider Fact 21.2.1. Choose the statement that is incorrect. If the labour market is working properly, there is still unemployment because
Social Action
Acts and behaviors intended to bring about change in societal norms, policies, or structures, often driven by collective or individual efforts.
Reducing Inequality
Reducing Inequality involves measures and actions aimed at decreasing the economic and social disparities between different populations or groups within society.
Gross Income
The total amount of money made in one year by a person, household, or family unit. Also known as money income at the Census Bureau.
Disposable Income
The amount of money that households have available for spending and saving after income taxes have been accounted for.
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