What do you think about the unemployment rate being at 0%? Do you think this is wonderful?
It would be wonderful if one can get hired with a lot less effort as opposed to someone getting hired with 6% unemployment rate. I know that there would be a countless number of applicants. I am aware that this may not be good for companies that hire people. A rate of 2 to 3 percent is as good as it can get.
Asked By: caltam84 - 12/13/2008
Best Answer - Chosen by Asker
Due to the frictional unemployment (changing market conditions, people transferring jobs) and structural unemployment (in and of the economy) that continually occur. Natural unemployment is the sum of these 2. When the unemployment rate is equal to the natural unemployment rate, this is the ideal scenario. A 0... More
Answered By: alledra1 - 12/13/2008
Additional Answers (1)
That would never happen for a variety of reasons, one of which is it implies extremely high levels of demand for labor, which in turn will provide high incentives for people to develop ways to substitute technology for some of that labor.
Answered By: SDD - 12/13/2008
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