Employment Is Not the Key to Economic Growth

Posted by on August 11th 2017 in Uncategorized | Be the first to comment!

By Frank Shostak By: Frank ShostakThe US unemployment rate stood at 4.3% in July against 4.4% in the month before. The number of unemployed stood at 6.981 million – an increase of 4,000 from June. A relatively low unemployment rate is considered by most experts as an important factor for economic growth.This way of thinking based on the view that a reduction in the number of unemployed means that more people can now afford to boost their expenditure. As a result, economic activity follows suit. If unemployment is an important driving force of an economy then it is valid to conclude that changes …read more

Source:: Mises Daily


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