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Unemployment, Vacancies, and "Full Employment" in the Irish Manufacturing Sector. Quarterly Economic Commentary, June 1977

Walsh, Brendan M. (1977) Unemployment, Vacancies, and "Full Employment" in the Irish Manufacturing Sector. Quarterly Economic Commentary, June 1977. [Working Paper]

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    Abstract

    The most frequently used indicator of Irish labour market conditions is the unemployment rate. The target of "full employment" has usually been defined by choosing the unemployment rate believed to correspond to an acceptable level of " involuntary " unemployment. This rate was set at 2 per cent in the NIEC 1967 report, and at 4 per cent in the NESC 1975 report. Neither of these studies contained an analysis of the implications of the target unemployment rate for the rate of wage inflation. On the basis of the evidence for the years 1953-71, Slattery (1976/77) suggested that an unemployment rate of 3 per cent is consistent with a 4.5 per cent rate of price inflation.

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    Item Type: Working Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > employment/labour market
    Countries > Ireland
    EU policies and themes > Policies & related activities > economic and financial affairs
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Economic and Social Research Institute (ESRI), Dublin > ESRI Quarterly Economic Commentary
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 12 Sep 2019 15:28
    Number of Pages: 14
    Last Modified: 12 Sep 2019 15:28
    URI: http://aei.pitt.edu/id/eprint/99390

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