Article;
RBI must understand its mandate
Comment;
We need to look at the
unemployment rate to decide the course of growth. Somewhere it (the
unemployment rate) is 2.2 and at other 3.8. Some expect it to be around 22%
which can not be accepted as wrong since an economy has many types of
unemployment, frictional unemployment, seasonal employment, disguised
unemployment, etc. etc.. which can be added to arrive at the above figure. In
the US the total employment figure is around 65-70% even after the recession.
Economics aim at minimizing unemployment...
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