Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/168420
Authors: 
Dantas, Flavia
Wray, L. Randall
Year of Publication: 
2017
Series/Report no.: 
Public Policy Brief 142
Abstract: 
Flavia Dantas and L. Randall Wray argue that the emerging conventional wisdom - that the US economy has reached full employment - is flawed. The unemployment rate is not providing an accurate picture of the health of the labor market, and the common narrative attributing shrinking labor force engagement to aging demographics is overstated. Instead, falling prime-age participation rates are the symptom of a structural inadequacy of aggregate demand - a problem of insufficient job creation and stagnant incomes that conventional public policy remedies have been unable to address. The solution to our long-running secular stagnation requires targeted, direct job creation for those at the bottom of the income scale.
ISBN: 
978-1-936192-54-0
Document Type: 
Research Report

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