Examples of unemployment rate in the following topics:
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- The labor force is the actual number of people available for work; economists use the labor force participation rate to determine the unemployment rate.
- Economists use the labor force participation rate to determine the unemployment rate.
- The unemployment rate is measured using two different labor force surveys.
- The survey measures the unemployment rate based on the ILO definition.
- The unemployment rate is updated on a monthly basis.
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- In macroeconomics, full employment is the level of employment rates where there is no cyclical or deficient-demand unemployment.
- Full employment represents a range of possible unemployment rates based on the country, time period, and political biases .
- Full employment is often seen as an "ideal" unemployment rate.
- The full employment unemployment rate is also referred to as "natural" unemployment.
- The graph shows the unemployment rates in the United States.
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- The unemployment rate is a percentage, and calculated by dividing the number of unemployed individuals by the number of all currently employed individuals in the labor force.
- The natural unemployment rate, sometimes called the structural unemployment rate, was developed by Friedman and Phelps in the 1960s.
- It represents the hypothetical unemployment rate that is consistent with aggregate production being at a long-run level.
- The natural rate of unemployment is a combination of structural and frictional unemployment.
- The natural unemployment rate occurs within an economy when disturbances are not present.
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- The Phillips curve depicts the relationship between inflation and unemployment rates.
- As unemployment rates increase, inflation decreases; as unemployment rates decrease, inflation increases.
- When the unemployment rate is 2%, the corresponding inflation rate is 10%.
- As unemployment decreases to 1%, the inflation rate increases to 15%.
- On the other hand, when unemployment increases to 6%, the inflation rate drops to 2%.
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- Unemployment is measured in order to determine the unemployment rate.
- In order to find the rate of unemployment, four methods are used:
- The method is not the preferred method to use when calculating the rate of unemployment.
- This image shows the unemployment rates by county throughout the United States in 2008.
- The unemployment rate is the percentage of unemployment calculated by dividing the number of unemployed individuals by the number of individuals currently employed in the labor force.
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- The natural level of unemployment is the unemployment rate when an economy is operating at full capacity.
- The reason why the natural rate of unemployment is still positive is due to frictional and structural unemployment.
- There is always at least some frictional unemployment in an economy, so the level of involuntary unemployment is properly the unemployment rate minus the rate of frictional unemployment.
- In this case the long-run demand for labor is higher than the temporary demand, so the rate of unemployment is higher than its natural rate .
- Over time, unemployment has returned to about 5%, which is the approximate natural rate of unemployment.
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- When unemployment is above the natural rate, inflation will decelerate.
- When the unemployment rate is equal to the natural rate, inflation is stable, or non-accelerating.
- Assume the economy starts at point A and has an initial rate of unemployment and inflation rate.
- At the same time, unemployment rates were not affected, leading to high inflation and high unemployment.
- The unemployment rate cannot fall below the natural rate of unemployment, or NAIRU, without increasing inflation in the long run.
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- During periods of recession, an economy usually experiences high unemployment rates.
- Hidden: the unemployment of potential workers that is not taken into account in official unemployment statistics because of how the data is collected.
- The final measurement is called the rate of unemployment .
- When unemployment rates are high and steady, there are negative impacts on the long-run economic growth.
- Socio-political: high unemployment rates can cause civil unrest in a country.
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- Full employment, in macroeconomics, is the level of employment rates when there is no cyclical unemployment.
- Unemployment above 0% is advocated as necessary to control inflation, which has brought about the concept of the Non-Accelerating Inflation Rate of Unemployment (NAIRU).
- The Phillips curve tells us that there is no single unemployment number that one can single out as the full employment rate.
- Instead, there is a trade-off between unemployment and inflation: a government might choose to attain a lower unemployment rate but would pay for it with higher inflation rates.
- Frictional unemployment is always present in an economy, so the level of involuntary unemployment is properly the unemployment rate minus the rate of frictional unemployment.
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- The Phillips curve shows the inverse relationship between inflation and unemployment: as unemployment decreases, inflation increases.
- The Phillips curve relates the rate of inflation with the rate of unemployment.
- The Phillips curve argues that unemployment and inflation are inversely related: as levels of unemployment decrease, inflation increases.
- Graphically, the short-run Phillips curve traces an L-shape when the unemployment rate is on the x-axis and the inflation rate is on the y-axis .
- For many years, both the rate of inflation and the rate of unemployment were higher than the Phillips curve would have predicted, a phenomenon known as "stagflation. " Ultimately, the Phillips curve was proved to be unstable, and therefore, not usable for policy purposes .