DeLong Smackdown Watch: Structural Unemployment Edition

Robert Waldmann is not alarmed:

This is really getting extreme.  All this discussion of the shift of the Beveridge curve is discussion of 1 (one) data point 2010Q2.  Earlier points are above the non-Beveridge line, but, you know it is (and always has been) a curve.  It is also not exactly the cutting edge approach to presenting data on vacancies and unemployment.  That would be the matching function.  Discussions of the vacancy rate and unemployment rate in 2010Q2 do not discuss gross...