Quote by Paul A. Samuelson, (interview),

I think, without question, that unemployment of more than 6 per cent is something to be concerned about. You don't push the panic button, but you don't relax and enjoy it either... I myself don't believe in a numbers game in which you give a maximum tolerable percentage, because I think, truly, it does vary with the times... I would hesitate to specify the figure today, but I will say this: it would be, in my mind, less than a 4 per cent figure - that is, for the period ahead. I would not, realistically, think we could hope for a 2 per cent figure in the near future, as certain European countries have been able to do. But I do think that if we are pretty zealous in this matter and insist upon getting low figures - say, 3.5 per cent - then our very success in accomplishing that may lead to a new epoch just beyond when we could hope to go below 3 per cent...


I think, without question, that unemployment of more than 6

Summary

This quote emphasizes the significance of unemployment rates and the need for concern when it exceeds 6%. The speaker believes that while it may not warrant extreme panic, it is also not a situation that can be enjoyed. They express skepticism towards setting a fixed acceptable percentage, suggesting that what is considered tolerable varies depending on the times. However, they personally believe that unemployment should ideally be below 4%, acknowledging the challenges of achieving rates as low as 2% seen in some European countries. The quote suggests that successful efforts in reducing unemployment may open up new possibilities for even lower percentages in the future.

By Paul A. Samuelson, (interview),
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