Unemployment

EC354: Our subject is now a rather grim one, but one we have got to face, unemployment.   It is a growing problem. The last two years have seen an increasing number of people losing jobs. These have been substantially older people.  At first people over 50 were expendable. Now it is dropping down to the low 40s and 40. One of the reasons for this is that to hire a man of that age means he is eligible for more benefits, that they are costlier.  Unemployment compensation, the health insurance, retirement and so on.