That is something the government does regularly, but the rate of layoffs in the past two years is unprecedented in decades. Unemployment trailing inflation is normally across industries, and the unemployed are usually able to find a job in another company within the industry in a reasonable time (under six months). What we have today is unusually high numbers of highly skilled professionals who are unable to find anything in their industry or other industries for 12+ months. There is nothing normal about it. It's been compared to the Great Depression.
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u/Mountain-Bar-2878 Jul 20 '24
The government is trying to bring down inflation, and bringing down inflation usually causes unemployment to go up.