But much of the decline appears to be structural, caused by new rules like the European working-time directive and a greater preference for shorter hours, including part-time jobs.

ECONOMIST: Labour market

Much of what economists know about structural unemployment has been gleaned from the sorry history of continental Europe, where fat benefits and rigid firing rules dulled labour-market efficiency.

ECONOMIST: Joblessness in America

The limited value of structural elements can be seen in many boards that have truly independent external directors, and follow all the official rules and recommendations, but still perform poorly in difficult times.

ECONOMIST: Corporate governance

Nor do we expect pro-growth structural reforms such as repeal of the 1974 budget and impoundment act, the line item veto, pay-go rules to require spending cuts to offset proposed spending increases, scoring reform, or a super-majority vote to pass new entitlements.

FORBES: Malpass Handicaps Tax Cut Extension