Labour market slack is the shortfall between the volume of work desired by workers and the actual volume of work available. The most important indicator of labour slack is the unemployment rate, but an exclusive focus on this fails to take account of the four-fifths of the jobless population who...

Labour market slack is the shortfall between the volume of work desired by workers and the actual volume of work available. The most important indicator of labour slack is the unemployment rate, but an exclusive focus on this fails to take account of the four-fifths of the jobless population who...

In the face of recession, falling demand and consequent slowing production, short-time working and temporary layoff schemes have been extended (or introduced) in many Member States. These schemes, often with the aid of public funds, reduce working time, while protecting workers' incomes and...