Unemployment is not only an economic issue; it is also a political one. No government can afford to ignore it. A flourishing economy and ample jobs give governments legitimacy. They lose legitimacy if the economy stagnates and good jobs become scarce. Evidently, voters refuse to consider unemployment a necessary part of the social order or something governments can do nothing about. Politicians who do not bow—or seem to bow—to this public pressure risk losing their mandates.
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