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  2. Okun's law - Wikipedia

    en.wikipedia.org/wiki/Okun's_law

    Okun's law is an empirical relationship. In Okun's original statement of his law, a 2% increase in output corresponds to a 1% decline in the rate of cyclical unemployment; a 0.5% increase in labor force participation; a 0.5% increase in hours worked per employee; and a 1% increase in output per hours worked (labor productivity).

  3. Natural rate of unemployment - Wikipedia

    en.wikipedia.org/wiki/Natural_rate_of_unemployment

    Milton Friedman argued that a natural rate of inflation followed from the Phillips curve.This showed wages tend to rise when unemployment is low. Friedman argued that inflation was the same as wage rises, and built his argument upon a widely believed idea, that a stable negative relation between inflation and unemployment existed. [11]

  4. Phillips curve - Wikipedia

    en.wikipedia.org/wiki/Phillips_curve

    This is nothing but a steeper version of the short-run Phillips curve above. Inflation rises as unemployment falls, while this connection is stronger. That is, a low unemployment rate (less than U*) will be associated with a higher inflation rate in the long run than in the short run. This occurs because the actual higher-inflation situation ...

  5. Unemployment in the United States - Wikipedia

    en.wikipedia.org/wiki/Unemployment_in_the_United...

    Level of education: Historically, as educational attainment rises, the unemployment rate falls. For example, the unemployment rate for college graduates was 2.4% in May 2016, versus 7.1% for those without a high school diploma. [96] Technology trends, with automation replacing workers in many industries while creating jobs in others.

  6. Unemployment - Wikipedia

    en.wikipedia.org/wiki/Unemployment

    Alternatively, technological unemployment might refer to the way in which steady increases in labour productivity mean that fewer workers are needed to produce the same level of output every year. The fact that aggregate demand can be raised to deal with the problem suggests that the problem is instead one of cyclical unemployment.

  7. What the Unemployment Rate Means for You and the Economy - AOL

    www.aol.com/finance/unemployment-rate-means...

    The Bureau of Labor Statistics (BLS) reports the unemployment rate on the first Friday of every month. It's up there with the GDP (gross domestic product) as one of the most important indicators of...

  8. Business cycle - Wikipedia

    en.wikipedia.org/wiki/Business_cycle

    The fluctuations in wages are almost the same as in the level of employment (wage cycle lags one period behind the employment cycle), for when the economy is at high employment, workers are able to demand rises in wages, whereas in periods of high unemployment, wages tend to fall.

  9. US unemployment rate rises, wage growth cools as labor market ...

    www.aol.com/news/us-job-growth-picks-august...

    U.S. job growth picked up in August, but the unemployment rate jumped to 3.8% and wage gains moderated, suggesting that labor market conditions were easing and cementing expectations that the ...

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