Unemployment

Unemployment Rate Unemployment Definition Unemployment Rate is the proportion of the unemployed US workforce. This calculation is the number of unemployed people divided by the total of the number of unemployed and the number of employees. If one is 16 years old and actively seeking work, they are considered unemployed, but I can not find a job. Students and retirees who choose not to work will not be included in the unemployment rate. March 2001: About the total population 211, 171,000 (excluding military persons under the age of 16 and institutional affiliates) - 69,304,000 people who are not labor force (retirement, student, individual choice does not go well)

Friction unemployment is a kind of unemployment caused by workers looking for the first job, voluntarily changing jobs, temporary layoffs, etc. This is a worker who is unemployed between jobs. Without economic unemployment, frictional unemployment is "good" unemployment because the economy can not produce as much as possible (that is, achieve a potential output). If some people are unemployed, how can the economy reach potential output? First, frictional unemployment is necessary for the economy to achieve its potential production level. For example, suppose a student in engineering department has just graduated from college and is looking for work. He / she rubs his unemployment. If technicians finished their first work, will scarcity of society be reduced as much as possible? On the way home from graduation, he / she saw the sign "I want you to help", handed over, applied, and worked for the rest of McDonald's. Is this good for society?

There are various kinds of unemployment. Friction unemployment is temporary unemployment when people are looking for work. Structural unemployment is a mismatch of workers' skills, places, and job requirements. Seasonal unemployment is caused by patterns of seasonal economic activity such as harvesting and sightseeing.

There are 7 reasons for unemployment. Four lead to friction and unemployment. This kind of unemployment means that employees leave to find a better job. Both lead to structural unemployment. At that time, the skills and income requirements of workers were no longer suitable for existing work. The seventh cause leads to periodic unemployment. Even in a healthy economy, there is the possibility of friction and structural unemployment. According to the Federal Reserve, the natural unemployment rate is between 4.5% and 5.0%. The Bureau of Labor Statistics has defined unemployed people as unemployed people and is actively looking for work in the past four weeks. If they do not keep looking, BLS does not calculate their labor force