How the Internet and Social Networks reduce the Unemployment Rate
The famous economists, Blanchard and Katz, described the labor market as a continuous flow in which companies hire and separate from workers , while there are employees who leave their jobs in search of better opportunities , forcing employers to seek replacements. The unemployment explaining this continuous flow is called F rictional Unemployment . From the Employer point of view, it is clear that vacancies are not filled automatically, but t here are Staffing processes lead by the HR departments that are very time consuming. . Similarly, it takes significant time and effort for workers to find a suitable job , as they have to select companies , send their resumes , do the interviews and negotiate the hiring terms and conditions . Against this background, the Internet and S ocial Networks are increasing the speed of communication in the labor market : Internet has reduced ...