Skills and Unemployment
The economy’s recovery from the 1990–91 recession has brought with it very low unemployment levels reminiscent of those seen 40 years ago. But the tight labor market has created another kind of problem: Many employers are struggling to find appropriately skilled workers. As the pool of unemployed workers dries up, the skilled proportion also recedes.
Suggested citation: “Skills and Unemployment,” Federal Reserve Bank of Cleveland, Economic Trends, no. 98-05, pp. 13-14, 05.01.1998.