ERIC Number: ED064477
Record Type: RIE
Publication Date: 1971-Dec
Reference Count: 0
Manpower Programs to Reduce Inflation and Unemployment: Manpower Lyrics for Macro Music.
Holt, Charles C.; And Others
There is growing recognition that the control of aggregate demand is limited in its ability to control both unemployment and inflation, and that structural changes in the economy will be required to achieve continuing full employment and price stability. This report indicates how manpower policies can contribute to stabilization of the economy. It is a preliminary effort to formulate an active program and to assess its costs and benefits. Shifting the trade-off between inflation and unemployment so that both are reduced can be accomplished in several ways: (1) reduction in the labor turnover rate, (2) increase in job search efficiency, (3) reduction in the responsiveness of wages and prices to the vacancy-unemployment ratio, (4) control of exogenous pressures toward inflation, and (5) reduction in imbalances between compartments. Recommendations to improve the trade-off cover four areas: (1) job matching, (2) vocational counseling and employment opportunities for youth, (3) training and job restructuring, and (4) geographic mobility assistance. (BH)
Descriptors: Business Cycles, Economic Climate, Federal Government, Government Role, Labor Force Development, Public Policy, Unemployment
Publications Office, Urban Institute, 2100 M Street, N.W., Washington, D.C. 200037 ($2.50)
Publication Type: N/A
Education Level: N/A
Sponsor: Manpower Administration (DOL), Washington, DC.; National Science Foundation, Washington, DC.; Ford Foundation, New York, NY.
Authoring Institution: Urban Inst., Washington, DC.