, 4 tweets, 1 min read Read on Twitter
This is interesting about worker shortages in France, but also problematic, and not just for the usual reason: if workers are scarce, why aren't wages going up? 1/ nytimes.com/2019/07/27/bus…
The article also refers to France's high unemployment rate. But we've been learning in the US that the unemployment rate is a poor guide to labor market tightness, with many preferring to focus on prime-age employment 2/
And by that measure, France is closer to full employment than we are! 3/
Not sure that's really true, but the vision of Europe as a place plagued by persistent mass unemployment is decades out of date 4/
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