Unemployment and the Unemployment Rate

This video introduces the economic definition of unemployment and shows how to calculate the unemployment rate as well as a few other related statistics. It also gives a few reasons why the typical measure of unemployment can understate the true rate of unemployment.

For more information and a complete listing of videos by topic or textbook chapter, see http://www.economistsdoitwithmodels.c...

For t-shirts and other merch, see http://www.economistsdoitwithmodels.c...

By Economists Do It With Models
http://www.economistsdoitwithmodels.com
Facebook: http://www.facebook.com/economistsdoi...
Twitter: http://www.twitter.com/jodiecongirl

• Category

  Education

[TheArfdog]

Maybe make a video on current events? Maybe about the last unemployment number of January, seeing as it made headlines. What does it mean for the economy? Are policies working?

[jodiecongirl]

I'm working on it. Ideally, I want to do a weekly video that talks about the week's economic headlines. I just have to figure out how to make it portable enough so that I can commit to putting one out each week. Maybe I'll just do it with the video camera on my iPad or something.

[TheArfdog]

Nice straightforward, concise explanation. You're so good.

[jodiecongirl]

Thank you! :)

[JuiceJapan]

Can you expand on how the prison population is, or is not, accounted for in domestic unemployment rates?

[saucesboss1234]

I don't understand why people don't sign up for dough on this and have another job

[plusECON]

While they can be manipulated, we have two methods (in the USA) to find employment/unemployment rates and they are always found the same way, free of manipulation.  It's politicians and the media who will use statistics to manipulate your interpretation of the accurate numbers found by the Government - watching this may explain better: /watch?v=UfIj7FVpirQ

[Magik0722]

6:32

freudian slip?

[dave j]

Is this a true statement : If one wanted to make the unemployment rate (high/low) it can be manipulated (for whatever reason) by adj the number (up/down) in the reported "work force" total.

In conclusion: 60k and a few other numbers while a indicator. It seems that the Population to that number (60k) even with 5 other inputs....well it seems off in too many ways to mention.I feel the Gov numbers are political regardless. DO you know of a Non-corrupted source we can use for better numbers? thks

[kfcwfd]

thank you so much and your hot lol

[sfjeff1089]

... total standard of living would be 3 * 3 + 3 * 12, and the standard of living for the average worker would be 3 bushels. If the workers unionized to get more food, they could increase their pay up to 8 bushels without causing shortage (3 * 8 + 3 * 12 = 3 * 20, which we saw was production). If you want to increase standard of living further beyond that you have to increase production efficiency, which some economists mistakenly refer to as the only way to increase standard of living.

[sfjeff1089]

You can see that total consumption and therefore standard of living will be 27 bushels of food. 3 * 3 + 3 * 6, taking advantage of our knowledge that the bosses are satiated.

In this case, if you increase productivity by 50%, it will have no impact on standard of living, but increasing pay by up to 100% will add a corresponding standard of living increase. If they come out with a fourth, fifth, and sixth goods, so satiation hits 12 bushels, rather than six, then ...