Theory

theory: One problem, many economists say: It isn't supported by a wisp of fact. , according to Hamilton Spectator. The theory Wu is referring to is known as "lump of labour," and it has maintained traction in the United States, particularly in a climate of high unemployment. The theory dates to 1851 and says if a group enters the labour market or in this case, remains in it beyond their normal retirement date others will be unable to gain employment or will have their hours cut. CHICAGO It's an assertion that has been accepted as fact by droves of the unemployed: Older people remaining on the job later in life are stealing jobs from young people. "We all cannot believe that we have been fighting this theory for more than 150 years," said April Yanyuan Wu, a research economist at the Center for Retirement Research at Boston College, who co-authored a paper last year on the subject. (www.immigrantscanada.com). As reported in the news.