Mises Wire
Author:
Frank Shostak
Online Publish Date:
A fall in the US unemployment rate to 4.6% in November from 4.9% in the month before, and 5% in November last year, has prompted some commentators to suggest that we are almost at the so-called natural rate, which is believed to be at around 4.5%. It is held that once the unemployment rate falls below an “optimal” rate — called the