Social Sciences and History / Unit 14 SSH 1321 short lesson, about 20 seconds
The Natural Rate: Frictional Plus Structural
Captions available
The idea
The natural rate of unemployment is the rate a healthy economy would show even without a recession. It includes frictional unemployment, workers moving between jobs; structural unemployment, when demand shifts permanently from a skill; and the side effects of hiring and firing laws.
In practice
A coder between contracts; a typesetter without presses.
Where people slip
Cyclical sits above the natural rate.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
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