Unemployment: Causes, Effects, and Pathways to Solutions
Words: 666 Pages: 2 9936The unemployment rate serves as more than just a statistic indicating the percentage of unemployed individuals; it functions as a vital macroeconomic indicator, crucial for assessing the health of an economy. Calculating the unemployment rate involves dividing the number of individuals in the labor force by those actively seeking employment, commonly referred to as the number of unemployed people. However, this figure comprises three distinct types of unemployment: frictional, cyclical, and structural. This complexity poses challenges for policymakers who must […]