Abstract
problems that unemployment raises are well known. The advantages of a faster growth rate in employment are those related to the economies of scale, investment, and technical progress. Thus, an economy with rapid growth in the rate of employment will usually achieve a higher rate of growth of output, and this may enable the economy to benefit more from the economies of scale (1). In addition, it is possible that a faster rate of growth in employment may enable the economy to achieve a given rate of growth of output with less gross investment (2). Moreover, a higher rate of growth in employment may enable the economy to learn faster and thus have a more rapid rate of suitable technical progress (3).
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