Dale Mortensen

Dale Mortensen was an influential economist known for his work on unemployment and labor markets. He helped explain why people sometimes struggle to find jobs even when jobs are available, by analyzing the process and costs involved in matching workers with suitable positions. His research showed that frictional unemployment—job searching time—plays a significant role in the economy. Mortensen’s insights improved understanding of labor dynamics and helped shape policies aimed at reducing unemployment. He was awarded the Nobel Prize in Economic Sciences in 2010, recognizing his contributions to understanding how labor markets function.