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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 725 |
Essay's paper body
Unemployed individuals include those that don’t have a job, are willing and able to work and have been searching for work within the past four weeks, and those laid off. Those not considered to be in the labor force are denoted as such if they have no job and aren’t looking. Individuals comprising this group include the elderly, children, mentally disabled etc...
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(Wikipedia.org.)
Policymakers and economists both want to know the value of the unemployment rate because it determines to some extent the efficiency of labor for the economy and according to Okun’s law, negatively correlated with real GDP; it is an estimator of the incomes and expenditures of the economy...
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