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What is Understanding Unemployment Types and Rates about?

The document discusses the natural rate of unemployment, which is the average rate of unemployment around which the economy fluctuates. It is caused by frictional unemployment from job search and wage rigidity. Frictional unemployment results from workers searching for jobs and adjusting to sectoral shifts in the economy. Wage rigidity, when real wages are above equilibrium levels, also contributes to unemployment by creating a shortage of jobs. Government policies like unemployment insurance can impact une

Author

Angelique Nitzakaya

Language

EN