whats the economic/theoretical consensus on optimal amount of frictional unemployment? (invert that and you approximate the amount of time the average worker should stay at a job).
Say frictional unemp is 3% a month and so "Employee Lifetime Tenure" is 3 years. Given how inefficient the search process and job market is, shouldnt we encourage more searching especially at early phases of life? What is the theoretical upper limit to that?
I wonder what research has been done to model this admittedly very theoretical question.
Say frictional unemp is 3% a month and so "Employee Lifetime Tenure" is 3 years. Given how inefficient the search process and job market is, shouldnt we encourage more searching especially at early phases of life? What is the theoretical upper limit to that?
I wonder what research has been done to model this admittedly very theoretical question.