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Labor Markets: Why is an active labor market policy a vital component of promoting full employment...

Labor Markets: Why is an active labor market policy a vital component of promoting full employment in Sweden? Why is an active labor policy more important in Sweden than in a more laissez-faire economy such as the US?
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Active labor market policy is a vital component of promoting full employment in Sweden because it helps to restore the equilibrium in the market for labor and also keep the demand intact. Also since the government regulation in the market of Sweden is high. Also even though unemployment rate is high, even then active labor market plays an important role in Swedish economy. After the deep recession of 1990s when Swedish unemployment rate was very high as compared to other European countries, this led to shift from passive to active labor market measures. The main goal of the government behind such policy is counteracting unemployment and welfare dependency and reduction of social expenditure.

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