To what extent can a four-day week solve the entry level job crisis in developed, highly educated, economies like Europe or America?
I am aware that this may lead to lower wages per capita, and that this is not applicable in a lot of industries, but in that policy conflict, let's take Full Employment as a priority.
However, I am more primarily concerned with the trade off between job losses from firms being less efficient and competitive and therefore are pushed out of the market, and job gains from this policy, possibly including improved working conditions due to less responsibilities on existing employees.
I would be glad to be directed to relevant research and if there's policies better suited to reduce unemployment and underemployment. Thank you.