8 percent, very close to the natural rate of unemployment, that is, the rate that can be expected from the usual movement of workers in and among industries as jobs are created and destroyed.
What does NARU stand for?
NARU stands for Natural Rate of Unemployment (Milton Friedman theory)
This definition appears rarely and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of NARU
We have 1 other meaning of NARU in our Acronym Attic
- National Association of Road Transport Owners (Nigeria)
- Nigerian Association of Road Transport Owners
- National Alliance of Respiratory Therapy Regulatory Bodies (Canada)
- National Association of Resale and Thrift Shops
- National Association of Rocketry Technical Services
- Naval Air Rocket Test Station (Lake Denmark, Dover, NJ)
- National Association of Radio Talk Show Hosts
- Naval Air Reserve Training Unit
- National Anglican Resources Unit (est. 2001; Australia)
- National Archives Requirements Unit (Canada)
- Naval Air Reserve Unit
- North Australia Research Unit (est. 1973; Australian National University; Casuarina, Northern Territory, Australia)
- Not A Registered User
- National Association of Regulatory Commissioners (est. 1889; Washington, DC)
- National Association of Regulatory Utility Commissioners
- Navy Aircraft Resources Utilization Study
- New Age Retarded Voter
- National Association of RV Parks and Campgrounds
- National Association of Retired and Veteran Railway Employees
- North American Regional Vocabulary Survey
Samples in periodicals archive:
Friedman is also noted for his critique of the Phillips curve and the concept of the natural rate of unemployment.
The idea that the economy gravitates towards a natural rate of unemployment that, in the words of Milton Friedman (1968), "is the level that would be ground out by the Walrasian system of general equilibrium equations, provided there is imbedded in them the actual structural characteristics of the labour and commodity markets, including market imperfections, stochastic variability in demands and supplies, the cost of gathering information about job vacancies and labour availabilities, the costs of mobility, and so on.
Over 80 percent of respondents predict that the unemployment rate will not fall back below 7 percent until the second half of 2012 (the natural rate of unemployment is estimated to be somewhere around 6 percent).
Some of the factors trying to explain the "movement" of the natural rate of unemployment are labor productivity, technological change, world real interest rates, real exchange rates, stock prices, and energy prices.