ELI5: Explain Like I'm 5

Employer of last resort

Imagine you're playing a game and the game master (GM) assigns you a role to play. The GM says you are the employer of last resort. What this means is that if someone needs a job but can't find one, they can come to you, and you will give them a job.

The employer of last resort is usually the government. The government creates jobs for people who cannot find a job by making sure that there is always work that needs to be done. Think about jobs like building schools, fixing roads, cleaning up parks, and helping out in hospitals. These are important jobs that need to be done to keep the city running.

The employer of last resort is a way to help people who are struggling to find work. By giving them a job, they can earn money and support themselves and their families. It also helps the economy because people who have jobs will spend money, and that helps businesses to grow.

So, basically, the employer of last resort is like a safety net for people who cannot find a job. It helps them to get back on their feet and keeps the economy strong.