There are 28.3 unemployed people for every vacancy
Posted on July 30, 2012
In searching for solutions to the unemployment crisis, it can be tempting to look for cheap solutions to solve the problem. One idea is that if we cut social welfare, then the unemployed would have an incentive to look for work.
As shown by indicator 2.6 of the Quarterly Economic Facts, Eurostat data shows otherwise. There are 28.3 unemployed people for every vacancy. The problem is not with the supply of labour, the problem is the lack of jobs.