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For example, seasonal unemployment often affects farm workers after harvesting is complete, and workers in resort towns after the tourist season ends. The dot-com bubble caused a temporary spike in demand for information technology workers, which was suddenly reversed in 2000–2001.
Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is people above a specified age (usually 15) [ 2] not being in paid employment or self-employment but currently available for work during the reference period. [ 3] Unemployment is measured by the unemployment rate, which is the number of people who ...
Seasonal adjustment or deseasonalization is a statistical method for removing the seasonal component of a time series. It is usually done when wanting to analyse the trend, and cyclical deviations from trend, of a time series independently of the seasonal components. Many economic phenomena have seasonal cycles, such as agricultural production ...
The unemployment rate rose to a 2-1/2-year high of 4.1% in June. The Fed's "Beige Book" report on Wednesday showed "employment rose at a slight pace" from late May through early July, but noted a ...
Initial claims for state unemployment benefits increased 14,000 to a seasonally adjusted 249,000 for the week ended July 27, the highest level since August last year. Economists polled by Reuters ...
The unemployment rate (U-3), measured as the number of persons unemployed divided by the civilian labor force, rose from 5.0% in December 2007 to peak at 10.0% in October 2009, before steadily falling to 4.7% by December 2016 and then to 3.5% by December 2019. [ 40] By August 2023, it reached 3.8 percent.
US economy added just 114,000 jobs last month and unemployment rose to 4.3%. What a jarring way to start the month of August. Last month’s job growth was far, far softer than expected, and the ...
Natural rate of unemployment (also known as full employment) – This is the summation of frictional and structural unemployment, that excludes cyclical contributions of unemployment (e.g. recessions) and seasonal unemployment. It is the lowest rate of unemployment that a stable economy can expect to achieve, given that some frictional and ...