From these regressions, Nickell concludes that high unemployment is associated with
three features: 1) high unemployment benefits which do not put a lot of pressure on those
unemployed to find work along with little government intervention to increase the
marketability and willingness to work of those unemployed, 2) a high degree of unionization
such that wages are bargained collectively however with little coordination between unions
and employers, and 3) poor education at the lower end of the labor market