Consequently, people must decide which data to focus on and how often they look at it. Because households and firms “rationally ignore” certain data  5  Most economists will recognize this application of the Lucas Critique. See the recent survey article by Bartosz Maćkowiak, Filip Matějka, and Mirko Wiederholt (2023), “Rational Inattention: A Review,” Journal of Economic Literature, vol. 61 (March), pp.
In addition, I should like to emphasise that moderate wage developments and a reduction in the burden of tax and social security contributions would generally help to reduce unemployment. This would be the case even if the country concerned did not trade heavily with its neighbouring countries.