Publisher's Synopsis
Excerpt from Occupational Unemployment Rates: An Example of Sources of Bias in Analysis of Structural Problems in the Labor Force
Unemployment _2, cit. P. 49.skilled laborers rather than fire and rehire them, since the cost of rehiring during the anticipated expansion may exceed the costs of hoarding. Because the cost of hiring unskilled workers is less, fewer unskilled workers will be hoarded, and thus the relative employment of unskilled workers will fall during a recession.
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