Employer of last resort

From Wikipedia, the free encyclopedia

Employers of last resort are employers in an economy which workers go to for jobs when no other jobs are available. Colloquially, this may refer to work which is undesirable to most people or pays poorly - for instance, in the United States economy, many fast-food industry jobs represent last-resort employment for many workers.

In economics, the phrase often refers to employers which can hire workers when no other employers are hiring. Their presence may soften the negative impact on employment of downturns in the business cycle. One example of such a program would be the Civilian Conservation Corps, a government agency intended to provide work to young, unemployed men. Military Keynesianism argues that the military can act as an employer of last resort.

[edit] External links

• An Introduction to the Employer of Last Resort Proposal from Dollars & Sense magazine
• Center for Full Employment and Price Stability