Econ 1 w/ John TaylorFeatured
by John B. Taylorvia PolicyEdWednesday, March 28, 2018
The unemployment rate is the percentage of unemployed workers in the total labor force. The economic models utilize the unemployment rate to explain short-term fluctuations and long-term trends, such as job loss and recession. This makes the unemployment rate important as it determines the health of the economy when establishing economic policies.