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Capital Economics

The leading macroeconomic research consultancy

US Economics Weekly

US Economics Weekly

Is structural unemployment a problem?

One reason why wage growth may have not fallen much below 2% could be that the structural unemployment rate has risen by more than most estimates suggest. The extent of skills and location mismatching means there is something in this. Even so, with the actual unemployment rate still so high, this would only reduce the disinflationary pressure on wage growth and not negate it. 

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