The years when the working-age population surges are the years the unemployment rate gets pushed up

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Labour market rigidity cuts both ways: firing costs so high that firms stop hiring Offshoring labour-intensive stages of production moves the jobs out along with the work How a shortfall in aggregate demand turns into layoffs: orders drop in spring and headcount falls by autumn Skills mismatch as a macro cause: what the education system produces has little to do with what employers list How much does a minimum wage increase actually cut hiring for low-skill entry-level jobs Payroll taxes and social insurance contributions raise the marginal cost of adding one more employee How currency swings and export order books translate into factory hiring and firing When an industry migrates the whole supply chain leaves and the workers left behind are not unskilled but stranded Austerity suppresses investment and the unemployment rate keeps climbing well after recovery starts The 1930s peak remains the benchmark for every later unemployment trend