Unemployment is 'involuntary' when the price is above its market clearing level. Workers are unemployed because jobs are not available at the prevailing wages, period. The only recourse is to either expand the number of jobs or somehow lower the… — Dale T. Mortensen Copy Share Image
The longer workers are unemployed, the greater the likelihood that their skills will erode and workers will lose attachment to the labor force, permanently damaging the economy's dynamism and potential output. — Jerome Powell Copy Share Image
