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The unemployment rate is (unemployed / labor force) × 100. Types: frictional (job search), structural (skills mismatch), cyclical (recession). Natural rate = frictional + structural.
Unemployment
A recent college graduate who is actively searching for their first job is experiencing which type of unemployment?
Apply what you've learned with these practice questions. These questions test your understanding of the key concepts.
Suppose an economy has an adult population of 250 million, 150 million employed, and 10 million unemployed. The labor force participation rate is:
