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Essay heading: unemployment
 
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Issue: Business
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Date added: June 24, 2005
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No of pages / words: 18 / 4935
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stretching the PID and inducing inflation. (One can imagine a climb by a downward running escalator ? all efforts to climb up result in the same position relative to the ground but changing relative to the escalator itself. Similarly, persons enjoy a higher nominal income but the same relative place in the PID...
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Similarly, persons enjoy a higher nominal income but the same relative place in the PID.) Labor force change is a potential candidate for describing the process of personal attempts to advance in the PID. The second section describes the process and provides empirical facts supporting this concept. One of the findings is that the labor force change leads inflation by three years...
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