But we should not rush to act preemptively in anticipation of such pressures based on arguments about the potential increase in structural unemployment in recent years.
In this regard, the issue of how much structural damage has been suffered by the labor market is of less immediate concern today in shaping monetary policy than it might have  Kingdom, and the United States (PDF),” IZA Discussion Paper Series 1938 (Bonn, Germany: Institute for the Study of Labor, January).