What we in the United States do know is that, over the years, more than 94 percent of our workforce, on average, has been employed as markets matched idled workers seeking employment to new jobs.
The latter must always reflect the usefulness and effectiveness of the services provided to customers rather than shortsighted rent-seeking behaviour. Insurance companies have also been affected to a limited extent by the low market rates; their adoption of prudent strategies in the past for matching asset durations with those of liabilities limited the effect on their balance sheets.