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Why has the public sector had difficulty hiring in the past? What are some possible downsides due to the actions taken with the hiring experiments? What are some economic factors that could derail the government's hiring spree?

Why has the public sector had difficulty hiring in the past? What are some possible downsides due to the actions taken with the hiring experiments? What are some economic factors that could derail the government's hiring spree?

Principles of Microeconomics (MindTap Course List)
Principles of Microeconomics (MindTap Course List)
8th Edition
ISBN:9781305971493
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter19: Earnings And Discrimination
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Why has the public sector had difficulty hiring in the past? What are some possible downsides due to the actions taken with the hiring experiments? What are some economic factors that could derail the government's hiring spree?
Transcribed Image Text:Why has the public sector had difficulty hiring in the past? What are some possible downsides due to the actions taken with the hiring experiments? What are some economic factors that could derail the government's hiring spree?
The Big Employer Still Adding Jobs and Boosting Pay: The Government Summary: Something has vexed many of us regarding unemployment. Why, if corporations like Google, Apple, Meta, and countless other large corporations are laying off workers, how have our employment numbers been so strong? One reason, as a survey recently conveyed, hiring after the pandemic has been so difficult and expensive, even as the economy cooled, CEOs are not letting go of as many workers as they normally would. Second, the government is on a hiring spree and filling those back-logged positions. As companies are reducing their headcount, and unemployment benefits are no longer available for many workers, the government can hire for their difficult-to-fill positions. While unemployment is supposed to go down as the Fed raises interest rates, this employment market has been stubborn. It begs the question; what will the Fed have to do to finally slow hiring?
Transcribed Image Text:The Big Employer Still Adding Jobs and Boosting Pay: The Government Summary: Something has vexed many of us regarding unemployment. Why, if corporations like Google, Apple, Meta, and countless other large corporations are laying off workers, how have our employment numbers been so strong? One reason, as a survey recently conveyed, hiring after the pandemic has been so difficult and expensive, even as the economy cooled, CEOs are not letting go of as many workers as they normally would. Second, the government is on a hiring spree and filling those back-logged positions. As companies are reducing their headcount, and unemployment benefits are no longer available for many workers, the government can hire for their difficult-to-fill positions. While unemployment is supposed to go down as the Fed raises interest rates, this employment market has been stubborn. It begs the question; what will the Fed have to do to finally slow hiring?
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