Unemployment in Denmark.

August 14, 2008

Crazy low unemployment in Denmark

( 2006-2008 ) Crazy decrease of unemployment in Denmark

Unbelievable. I always heard that unemployment rate could never be below 3.5% or so, because that is frictional unemployment. But during these last months is going quite low. I guess is because the way they measure it at Statistics Danmark. Or is sound proof of my macroeconomic class 101 about the Phillips Curve, that is the direct realationship between a high employment and high inflation.