Unemployment Rate Essay

1481 Words Jun 15th, 2016 6 Pages
Memorandum TO: PROFESSOR STAIGER FROM: LUYAO YANG SUBJECT: U.S UNEMPLOYMENT RATE DATE: APRIL 10, 2016 Unemployment is a familiar and sensitive concept for people in the labor force. In particular, during the recession, a lot of people will loss the job and unemployment can have a great influence to the social stability. This memo will start with the definition and measurement of unemployment. Then it will show the impact of …show more content…
One is the number of unemployed people. It is the number of people who do not have a job and who are still actively seeking for job, which excludes those who have already given up finding a job. The other value from the unemployment rate is the labor force. Total labor force comprises people ages 15 and older who meet the international labor organization definition of economically active population. It includes both the employed and the unemployed. However, it excludes homemakers and other unpaid caregivers. When the unemployment rate is low, it does not necessarily indicate the economy is healthy, because the unemployment rate does not take into consideration of those who still want to work but have already given up to find a job.

Unemployment rate and the

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