DeLong Smackdown Watch: Beveridge Curve Edition

Robert Waldmann:

David Altig Says That Our Cyclical Unemployment Has Started to Turn Structural: Shorter Brad DeLong:

Terrible news, there are lots more job openings in the USA than there were a year ago.

Huh? I'd say that job openings are good news. Would you rather there were fewer? One might imagine that high unemployment and high vacancy rates are, as you directly state, a bad sign as high unemployment combined with high vacancies lasts longer -- that the...