{"id":42755,"date":"2018-04-10T02:00:53","date_gmt":"2018-04-10T06:00:53","guid":{"rendered":"http:\/\/quotulatiousness.ca\/blog\/?p=42755"},"modified":"2018-03-20T09:40:03","modified_gmt":"2018-03-20T13:40:03","slug":"structural-unemployment","status":"publish","type":"post","link":"https:\/\/quotulatiousness.ca\/blog\/2018\/04\/10\/structural-unemployment\/","title":{"rendered":"Structural Unemployment"},"content":{"rendered":"<p align=\"center\"><iframe loading=\"lazy\" width=\"853\" height=\"480\" src=\"https:\/\/www.youtube.com\/embed\/_t-ZDHFr73s\" frameborder=\"0\" allow=\"autoplay; encrypted-media\" allowfullscreen><\/iframe><\/p>\n<blockquote><p><strong>Marginal Revolution University<\/strong><br \/>\n<strong>Published on 8 Nov 2016<\/strong><\/p>\n<p>Unemployment comes in many forms. Sometimes, like we saw with short-term, frictional unemployment, it can actually indicate a healthy, growing economy. But what about persistent, long-term unemployment? That\u2019s not so good.<\/p>\n<p>When a large percentage of those who are considered unemployed have been without a job for a long period of time and this has been true for many years, it\u2019s considered structural unemployment.<\/p>\n<p>Structural unemployment can result from shocks to an economy that drastically alter the labor market. These shocks are not all bad \u2013 the rise of the Internet is one such example. Regardless, it can take a while for an economy to adjust to big changes. <\/p>\n<p>These adjustments tend to happen faster in the United States than in Europe. This is most likely due to differences in labor regulations, and how those regulations affect a country\u2019s ability to respond to shocks. <\/p>\n<p>The United States\u2019 employment law known as the \u201cat-will doctrine\u201d makes it so that an employee can quit, or an employer can fire, at any time for any reason. It\u2019s legally much harder to terminate an employee in many European countries. This makes hiring riskier in Europe, resulting in a less dynamic labor market that isn\u2019t able to quickly respond to shocks.<\/p>\n<p>As you might guess, structural unemployment tends to count for a higher percentage of total unemployment in Europe than in the United States. This remains one of the most serious issues facing many European economies today. <\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Marginal Revolution University Published on 8 Nov 2016 Unemployment comes in many forms. Sometimes, like we saw with short-term, frictional unemployment, it can actually indicate a healthy, growing economy. But what about persistent, long-term unemployment? That\u2019s not so good. When a large percentage of those who are considered unemployed have been without a job for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":35193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25,62,13],"tags":[95,1093,661],"class_list":["post-42755","post","type-post","status-publish","format-standard","hentry","category-economics","category-europe","category-usa","tag-jobs","tag-macroeconomics","tag-regulation"],"jetpack_featured_media_url":"https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2016\/06\/favicon.png","jetpack_shortlink":"https:\/\/wp.me\/p2hpV6-b7B","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/42755","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/comments?post=42755"}],"version-history":[{"count":1,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/42755\/revisions"}],"predecessor-version":[{"id":42756,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/42755\/revisions\/42756"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media\/35193"}],"wp:attachment":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media?parent=42755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/categories?post=42755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/tags?post=42755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}