Map Of The Day

Apr 21 2014 @ 11:44am

State-Umployment-March-2014

Danny Vinik relays a way to even out those unemployment rates:

One idea economists have suggested to help the long-term unemployed—that is, those out of work more than six months—is to offer them financial assistance to move to some of these states and areas with low unemployment. This would create a more flexible labor market and allow unemployed workers, particularly the long-term unemployed, to move to areas where there are fewer job seekers.

Not everyone can move to North Dakota and find a job of course. The labor market is small there and an influx of long-term unemployed workers would send the state’s unemployment rate skyrocketing. But it could help on the margins. Given the magnitude of the crisis of the long-term unemployed, it’s worth a shot.