👉 Unemployment engineering refers to the deliberate actions taken by governments or economic actors to manipulate unemployment rates, often through policies that artificially lower them. This can involve measures such as increasing the minimum wage to the point where it exceeds the equilibrium wage, thereby reducing job availability for low-skilled workers, or implementing subsidies for businesses that hire more employees. While these actions might temporarily reduce unemployment by encouraging hiring, they can lead to inefficiencies, such as overqualified workers being underemployed or businesses cutting corners on worker training and safety. In the long run, unemployment engineering can distort labor markets, reduce productivity, and undermine economic health by fostering a culture of dependency on government support rather than encouraging sustainable employment growth.
