Answered: In January 2019, the U.S. economy added…

In January 2019, the U.S. economy added 302,000 new jobs. Yet the unemployment rate rose from 3.9% to 4.0%. How is this possible?

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter16: Expectations Theory And The Economy

Section16.2: The Controversy Begins: Are There Really Two Philps Curve?

Problem 2ST

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Concept explainers

Unemployment and Cost of Unemployment

Unemployment is the state of being unemployed, even when an individual is actively seeking work opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed.

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In January 2019, the U.S. economy added 302,000 new jobs. Yet the unemployment rate rose from 3.9% to 4.0%. How is this possible?

Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

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