Demography, tech reduce US natural unemployment rate – paper
The ageing of the US labour force, the participation of more women and the skill set of the population have all reduced the natural rate of unemployment in the US, according to a research paper published by the Reserve Bank of Kansas City.
A New Estimate of the Natural Rate of Unemployment by Didem Tuzemen concludes the rate in the US has dropped by 0.4 percentage point since 1994 and is now 4.6%. Demographic and technological changes could reduce it to 4.4% by the end of 2022, says the author
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