ECON 2105 Lecture Notes - Lecture 2: Investment Banking, Xm Satellite Radio, Fisher Equation
22 Apr 2017
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1: currently, the highest unemployment rate is agriculture. The lowest is government employees and the second lowest is education. In 2009, unemployment was 10% while underemployment was 17. 4: politicians often use the underemployment rate because it is a bigger number but economists know all the trivial factors of the underemployment rate so they prefer to use unemployment. Unemployment: some amount is healthy to allow labor to shift to where it is most highly valued, there are two kinds of unemployment: frictional and structural, frictional: temporary in nature by an individual. Importing and exporting industries: relatively efficient, government of private employment matching industries, makes ufrictional decrease, relatively efficient, unemployment insurance (benefits): set up by fdr. Essentially you are laid off (not fired) and therefore you get benefits for. Firms felt they had the miners trapped because it was difficult to move in the 1800s.
