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The Various Forms of Unemployment

In: On Unemployment

Author

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  • Mark R. Reiff

Abstract

There are many different senses in which the terms “employment” and “unem- ployment” can be used. It is important to recognize that full employment, which is what I shall be arguing justice requires here, does not mean an unemployment rate of zero. The labor market is dynamic, not static, so the rate of people entering and leaving the employment pool will usually not sum to zero—there will always be people looking for different jobs or better ones; some skills and the people who have them will become less marketable as a result of technological or cultural change while other skills and the people who have them will become more marketable. Every economy must leave room for such shifts in the demographics of employment to occur if it is to function smoothly and be able to reallocate labor efficiently and as needed by the development of new technologies. Efforts to reduce unemployment will accordingly always aim to allow some frictional unemployment to remain.1

Suggested Citation

  • Mark R. Reiff, 2015. "The Various Forms of Unemployment," Palgrave Macmillan Books, in: On Unemployment, chapter 0, pages 21-32, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-55000-2_2
    DOI: 10.1007/978-1-137-55000-2_2
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