An aggrieved billionaire this week lamented that workers had grown lazy and "arrogant" during the coronavirus pandemic and that many of them needed to be made unemployed for the situation to improve.The Australian Financial Review reports that Tim Gurner, the founder and CEO of the Gurner Group, exp...
There is a difference between unemployed but needing to work in order to afford food and shelter, and unemployed but being able to stay out of the workforce for a while. A lot of people need work but can’t find any. Certain degrees of unemployment are fine if those who can’t find work are taken care of, through a social safety net and similar.
Correct - but the unemployment rate doesn’t take that into account.
I lie, I gave a few bad examples. Those of working age but not looking (like the SAHP) are out of workforce and not included in unemployment rate. But seasonal, grads looking for the right job and those transferring between jobs are still unemployed and form that 3% i mentioned. The other type (structural unemployment) that relates to not having the skills that employers search for we should have as close to 0% as possible and that part is a concern.