I wrote a couple months ago that an economist Brad DeLong thinks our unemployment is a structural problem. I forgot I wrote this and it’s totally wrong. So here we go.
Disclaimer: I got this one wrong! Really wrong! My bad.
DeLong does not claim that our economy is experiencing structural unemployment. In fact, he argues the opposite, a lot. I made this a while back, and just messed up. I know better. Sorry.
DeLong argues that there’s no way that unemployment can be structural, because unemployment exploded after the financial collapse. It’s because of a lack of demand for goods and services and not an inadequate supply of good workers that has caused our unemployment situation.
But I’m going to keep up my mistake, for transparency.