PPT-Potential GDP and the Natural Unemployment Rate

The Three Main S chools of Thought Potential GDP The production Function The Demand and Supply of Labor The Natural Unemployment Rate The Classical view Market industrialized economies are inherently . What are the . 4 types . of unemployment?. How are unemployment rates determined?. What is full . employment a. . underemployment?. . What. is a . discouraged worker?. "It's a recession when . your neighbor . World’s Fiercest Enemy. Unemployment. Unemployment is the . the. . state. . of. . being out of work, . especially. . involuntarily. The Unemployment rate is determined by dividing all the unemployed by the people currently in the labor force. David Duffy. The Outlook. Dependent on world trade growth. If forecast recovery materialises then Irish growth will improve in 2014. Household spending likely to remain weak, but some improvement due to employment growth. Unemployment. occurs when a person is available to work and currently seeking work, but the person is without work.. How. to . define. u. nemployment. In USA . unemployment . is measured by the Bureau of Labor Statistics (BLS. Anders Forslund. IFAU and Uppsala University. Seminar 2014-10-16, Fighting Youth Unemployment:. Lessons from the Netherlands and Sweden. 1. Introduction. Youth. . unemployment. a . serious. . challenge. By: Nicolas . Dromel. , . Elie. . Kolakez. , and Etienne Lehmann. . Group C. Steven . Bodi. , Mitchell . Steffler. , . Yaqin. . Hu. , . Kelby. . Krotz. , . Manmeet. . Litt. , Jordan Kirkpatrick. By: Ben . Quick. SSEMA1a,b. The unemployment rate shows the percentage of unemployed people divided by the total number of people in the civilian labor force . The unemployment rate understates the unemployment rate because it does not include “discouraged” workers or people who are working part time because they cannot find full-time work. Indicators. Economic Disasters. Supply-side Economics vs. Keynesianism. Vocabulary. Wednesday. GDP/GNP. Business . Cycles. Expansion. Peak. Recession. Trough. THURSDAY. Unemployment. Frictional. Structural. Economics. Unemployment. Economist’s definition:. Those of working age, who are without work, but who are available for work at current wage rates.. Two . measures . of unemployment.. Claimant . count. 20. Previously. Gross Domestic Product (GDP). The market value of all final goods and services produced in a specific period of time. . To find real GDP, we must adjust nominal GDP for inflation. Business cycle. &. Fluctuations. Section I. Business Cycles & Fluctuations. Business cycles . are largely systematic ups and downs of real GDP. Business fluctuations . is the rise and fall of real GDP over time in a nonsystematic manner.. Chapter 21. McGraw-Hill/Irwin. Copyright © . 2015 . by . McGraw-Hill Education (Asia). . All rights reserved.. Learning Objectives. Identify the four phases of the business cycle and explain the primary characteristics of recessions and expansions. Associated Builders and Contractors, Markstein Advisors. * Unemployment Rate is for Construction . Mining Logging. Associated Builders and Contractors, Markstein Advisors. * Unemployment Rate is for Construction . Macroeconomics a branch of economics dealing with the performance, structure, . behavior. , and decision-making of an economy as a whole, rather than individual markets. . The word is of Greek . origin: .