Blanchflower, David G.; Bryson, Alex; Spurling, Jackson - National Bureau of Economic Research - 2022
Most economists maintain that the labor market in the United States is 'tight' because unemployment rates are low. They …, prior to that, real wages had been stagnant for some time. We show that unemployment is not key to understanding wage … formation in the USA and hasn't been since the Great Recession. Instead, we show rates of under-employment (the percentage of …
