The unemployment rate measures only the fraction of the labor force searching for work. Sometimes economists are
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The unemployment rate measures only the fraction of the labor force searching for work. Sometimes economists are interested in the length of time that the unemployed have been out of work. One convenient summary measure is the median duration of unemployment. Plot this variable, and comment on how it has evolved over time, particularly during the last recession.
Answer the question using the Federal Reserve Bank of St. Louis’s FRED database, accessible at http://research.stlouisfed.org/fred2/
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American unemployment rates utilize five measures in addition to ...View the full answer
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Dudhat Vaidehi
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