Discussion of the Week

There are three types of unemployment: frictional, structural, and cyclical.Which one is the worst for workers and what could they do to avoid it? Explain.

Unemployment

Chapter 8 introduces you to the unemployment rate as a measure of the number of working-age people within an economy that look for a job, but currently do not have one. By the end of this unit, you should be able to discuss how labor productivity affects economic growth, how unemployment is measured, and the types of unemployment. Knowledge of unemployment is important because it informs government policies and paints a clearer picture on the current economic situation.

Reading Assignment

Principals of Macroeconomics 2e

• 8 Unemployment

References

Federal Reserve Bank of St. Louis. (2018,May 3).Unemployment - Economic lowdown [Video].YouTube.https://www.youtube.com/watch?v=IOoV1Q_VGFA Geenlaw, S. & Shapiro, D. (2017). 8 Unemployment. InPrincipals of macroeconomics 2e. Openstax.https://openstax.org/details/books/principles-macroeconomics-2e