Principles of Macroeconomics / Unit 5 MAC 0411 short lesson, about 20 seconds
Patterns in the Data
Captions available
The idea
The rate rises in recessions and falls in expansions, returning to roughly four to six percent. It never reaches zero and rarely falls below three.
In practice
Despite a far larger population and labor force, there is no long-term trend up or down.
Where people slip
Unemployment lags the cycle, so it keeps rising after output turns up, which is why recoveries feel late.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
Builds on
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