alt Hacker News> if labor demand exceeds supply, unemployment will stay close to its natural bottom
In the private sector. The public sector (and what I'd call non-discretionary hiring, e.g. in healthcare) makes the response a bit more inelastic.
> if labor demand exceeds supply, unemployment will stay close to its natural bottom
In the private sector. The public sector (and what I'd call non-discretionary hiring, e.g. in healthcare) makes the response a bit more inelastic.
And healthcare hiring is only going to go up, and remain inelastic, because of an aging population (increasing demand for healthcare services).