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2009-12-04

Englund's Q - How come that unemployment is rising when the recession is over?

It is the productivity, Stupid.

For employment to rise GDP must increase more than Productivity (P), of course.

deltaGDP/deltaP gives a nice Q.

I have been thinking about this since I read Marian Radetzki in 1996.

Of course it is obvious. But the important thing is to understand its importance.

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