⭐️ UNEMPLOYMENT

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6 Terms

1
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What is the labor force?

Employed + unemployed.

2
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What is the unemployment rate?

Unemployed / labor force.

3
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What is the LFPR?

Labor force / adult population.

4
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What is hidden unemployment?

Discouraged workers not counted in labor force.

5
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What are the types of unemployment?

Frictional

6
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What is the natural rate of unemployment?

Frictional + structural unemployment.