3.2.6. The unemployment rate
(Unemployment Rate)
Factor employment may be considered as two variables: the unemployment rate (ie the percentage of unemployed to the total working-age population), or, as the inverse measure the number of employees.
The unemployment rate is usually published as a percentage: unemployment rate = 8.6%; at the same time there is an inverse dependence of the change in the unemployment rate and the exchange rate.
In accordance with modern economic theory can not be achieved zero unemployment (there is always a seasonal, structural, frictional unemployment). Therefore, macroeconomic full employment for the industrial countries corresponds to the unemployment rate of approximately 6%.
Change of employment (particularly in the U.S.), characterized by the NFP - Non-Farm Payrolls, ie number of people employed in nonagricultural industries. The growth rate characterizes the NFP employment growth and leads to an increase in the dollar.
<<Gross National Product - GNP
