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  • In short-term unemployment news, good and bad news

    The Wall Street Journal - 12/02/2014

    The good news is that fewer people are out of work and that more companies are hiring. The bad news is that there appears to be little room for improvement in these areas.

    The relationship between job vacancies and unemployment is known as the Beveridge Curve. The curve is a visual way to distinguish cyclical changes in unemployment from structural ones. As Northeastern University’s Rand Ghayad and Bill Dickens noted in 2012, the overall Beveridge Curve has shifted out since the beginning of the recession, but the curve for the short-term unemployed, shown above, has moved cyclically: The relationship between job vacancies and short-term unemployment has not changed.

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