>>65399
>Because nominal employment in an unproductive occupation is a negative, not a positive
If their occupation was so 'unproductive' nobody would have hired them.
>insufficient competition for jobs leading to higher wages and lower productivity.
Oy vey.
>Employment alone does not lead to any valid conclusion that can stand on its own
Unemployment is a real phenomenon and it's extremely destructive.
It's true that fucking up interest rates to reduce unemployment is bad, but that doesn't mean unemployment isn't also bad.