Chapter 28/ unemployment/ level of difficulty 2/3

Chapter 28 was all about unemployment. Although unemployment is quite difficult to measure it is done by the BLS. There are three main categories where people or the population are split into. Those three are employed, unemployed, and not in the labor force. Those employed include the workers that are paid employees, or have worked in someone else's business. Those unemployed were available for work but had tried finding another job in a month. Not in the labor force include full time students, home makers, retirees. The labor force sum of employed and unemployed. The unemployment rate being the number of unemployed over the labor force times 100. The labor force participation rate us the percent total of adult population of the US into labor force. Natural rate of employment refers to that of the fluctuations in the unemployment rate and the cynical unemployment being the deviation of unemployment from the natural rate. The cycle of movements in and out of the force makes it much more complicated for statistics to be interpreted. Discouraged workers would like to work but have given up trying to find a job. Short term would be considered to be not such a big deal, but long term is a significant big deal. Rn employment will never fall to zero rather it will fluctuate around the natural rates. The time it takes to find another job is another factor that affects statistics. If public policy was to help with tech advances then the natural rate of unemployment will fall.