1. Unemployment in Today’s Economy
Unit 13.1

2. Measuring Unemployment
Unemployment Rate
Underemployed
Full Employment

3. Unemployment Frictional Unemployment – Looking for new work
Seasonal Unemployment – Farm work, Holiday Seasons
Structural Unemployment – Changing workplace
Cyclical Unemployment – Business Cycles
Discouraged workers

5. Bureau of Labor Statistics
Year
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2004
161 44
332
249
307 74 32
132
162
346 65
129
2005
134
239
363
175
245
373
196 67 84
337
159
2006
277
315
280
182 23 77
207
184
157 2
210
171
2007
238 88
188 78
144 71
-33
-16 85 82
118 97
2008 15
-86
-80
-214
-182
-172
-210
-259
-452
-474
-765
-697
2009
-798
-701
-826
-684
-354
-467
-327
-216
-227
-198 -6
-283
2010 18
-50
156
251
516
-122
-61
-42
-57
241
137
2011 70
168
212
322
102
217
106
122
221
183
164
2012
360
226
243 96
110
160
150
225
203
214
2013
197
141
199
201
149
202
237
274
2014
222
304
229
267
256