While the US workforce-participation rate languishes near historic lows, many employers complain they are having a tough time finding qualified workers to fill open positions.
Uncertainty is confounding by its very definition. In the economy, uncertainty can arise from a number of different corners, including wars, natural disasters, and, of course, government decisions—or indecision.
When the global financial crisis erupted with full force in 2008, risk premia and borrowing costs surged around the world.
Government-related uncertainty is a relatively new concept that researchers are in the process of defining.
Recent political events reinforce the view that high levels of policy uncertainty harm the economy.