Unemployment results from people searching for jobs from "summary" of Principles of Macroeconomics by N. Gregory Mankiw
In the labor market, the concept of unemployment is closely tied to the idea of people actively searching for jobs. When individuals are actively seeking employment but are unable to find suitable positions, they are considered unemployed. This search for employment is a critical component of the labor market dynamics, as it reflects the ongoing process of matching workers with available job opportunities. Unemployment results from people searching for jobs because it signifies a disconnect between the supply of labor and the demand for labor in the economy. When there are more people looking for work than there are job openings, the result is a surplus of labor, leading to unemployment. This imbalance in the labor market can be caused by various factors, such as changes in technology, shifts i...
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