econ week 8 notes
econ week 8 notes ECON 104
Popular in Introductory Macroeconomic Analysis and Policy, Goffe
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This 1 page Class Notes was uploaded by Evangelos Katradis on Sunday April 3, 2016. The Class Notes belongs to ECON 104 at Pennsylvania State University taught by Goffe in Spring2015. Since its upload, it has received 12 views.
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Date Created: 04/03/16
econ week 8 notes unemployment= # unemployed/ labor force participation rate= labor force/ population (+16) U6 underemployment= unemployed + m. attached + part time want full / labor force + marginally attached frictional short term unemployment, seasonal (ex. lifeguard) structural mismatch b/w workers traits and employers desired traits (ex. losing job in factory to robot cyclical unemployment that occurred as a result of the business cycle or a recession when cyclical= 0 > natural unemployment rate okun’s law relationship b/w unemployment rate and real GDP (growth)