Much publicity has been made about the rise in unemployment in manufacturing industries in the US during a period of sluggishness in trying to…
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Much publicity has been made about the rise in unemployment in manufacturing industries in the US during a period of sluggishness in trying to recover from the 2008-09 recession. However, with the 2017 real GDP being close to its natural level, manufacturing firms complain that they have plenty of job openings, but cannot find workers whose skills match up well with the positions. Apply the concepts of structural and cyclical unemployment to contrast this decline in manufacturing employment in a sluggish economy versus a healthy economy
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