The labour market, capital formation and job creation

As already noted, according to the trade and technology explanations of unemployment, import penetration and technological change have led to persistently rising structural unemployment through the workings of the labour market. The trade and technology explanations thus link up with earlier "stagflation" theories of the 1970s, based on the concept of a "natural" rate of unemployment, which hold that inflexible labour markets themselves are the source of unemployment.

Sustainable Development Goals:

Decent Work and Economic Growth

Partnerships for the Goals