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Not everyone who is unemployed is a statement on the health of the economy. We actually want movement in the labor market, so we don't
Not everyone who is unemployed is a statement on the health of the economy. We actually want movement in the labor market, so we don't want a zero unemployment rate. Therefore we classify different types of unemployment. Back to that imaginary child you have been talking to, tell them what the following are - Frictional unemployment Structural unemployment Cyclical unemployment Natural rate of unemployment
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