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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (268079)1/11/2006 5:32:46 PM
From: combjelly  Read Replies (1) of 1575623
 
"In fact, economists did not believe that unemployment could get much below 5%."

That was before the 1980's. The population was more mobile, and people in non-manufacturing jobs tended to change jobs frequently and without necessarily having something lined up. 5% was considered the limit because that was close to the number who were voluntarily unemployed. But, after stagflation and downsizing, that has changed.
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