People unemployed over 6 months rose by a whopping 361k, 44% of all unemployed.What does this tell us about human capital? If you're made redundant and don't get a new job quickly your human capital depreciates to such a degree that you become almost unemployable? Or is it that those with the lowest marginal product, and thus I guess the lowest human capital, get fired first and because of the low human capital find it difficult to get another job?
Saturday 4 June 2011
U.S. unemployment fact
Tyler Cowen reports,
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