"The USA has shown one of the lowest unemployment rates among the western industrial nations during recent years - though with large upward deviations for young people or certain ethnic groups. The short duration of unemployment could be attributable to the following two factors: firstly the...

"The insider-outsider theory is one of the approaches with which the persistence of unemployment can be accounted for. The central hypothesis says that the insiders, in other words the 'job holders', drive the wage level above the market-clearing level, thus creating a barrier that prevents new...

"The USA has shown one of the lowest unemployment rates among the western industrial nations during recent years - though with large upward deviations for young people or certain ethnic groups. The short duration of unemployment could be attributable to the following two factors: firstly the...

The insider-outsider theory is one of the approaches with which the persistence of unemployment can be accounted for. The central hypothesis says that the insiders, in other words the 'job holders', drive the wage level above the market-clearing level, thus creating a barrier that prevents new...