ALTHOUGH Britain and America can feel smug about their unemployment rates of 5.6% and 5.3%, other countries are still fire-fighting. The Spanish and Italian governments are grappling with rates of 22.4% and 12.7% respectively, and in June the euro-zone average was 11.1%. But what works when people are not working? A new NBER Working paper* offers a guide for governments desperate to reduce the ranks of the unemployed.
“Active labour market programmes” are schemes meant to help people to find work. They grew out of the American public works programmes of the 1930s, where the...Continue reading
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