Step One: Identify and describe the different types of unemployment that exist in the United States. Step Two: Using the formula for calculating unemployment, determine the overall unemployment rate if there are 200,000 persons unemployed and the labor force consist of 2,500,000 persons. Step Three: Explain what is meant by the natural rate of unemployment and identify factors that have caused it to fall over the last 20 years. For example, the innovation of the internet has made is easier to connect job seekers with employers, and has favorably impacted the unemployment rate