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Monday, September 15, 2008

#3 Unemployment

The definition of unemployment = the number of people who do not have jobs, who are available for work, and looking for work. Simply put, a person that wants a job but can't find a job is classified as unemployed.

During the US Great Depression the unemployment rate hit a peak of 25%.

*To note: Unemployment rate always (historically) rises during a recession.

Slow economic growth or negative economic activity probably pushes upward pressure on the unemployment rate.

In the last year, the US unemployment rate went from 4.4% to 5%, a 0.6% jump, every single time it has happened since WW 2 there was a recession.

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