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What factors make it difficult to determine the unemployment rate? Why is it difficult to distinguish between frictional, structural, and cyclical unemployment? Why is unemployment an economic problem? What are the consequences of a negative GDP gap? What are the noneconomic effects of unemployment?
Measuring the unemployment rate means first determining who is eligible and available to work. The total U.S. population is divided into three groups. One group is made up of people under 16 years of age and people who are institutionalized. The second group, labeled not in the labor force are adults who are potential workers but for some reasonage, in school, or homemakers are not seeking work. The third group is the labor force, those who are employed and those who are unemployed but actively seeking work. It is not easy to distinguish between these three types of unemployment because the sum of frictional and structural unemployment is itself changing, thus it is difficult to determine the full-employment unemployment rate. For example, a person who quits a job in search of a better one would normally be considered frictionally unemployed. But suppose the former job then disappears completely because the firm is in a declining industry and can no longer make money. Our still jobless worker could now be considered structurally unemployed. And then suppose the economy slips into a severe recession so that our worker cannot find any job and has become cyclically unemployed. The sum of frictional and structural unemployment fluctuates as the labor force structure changes. In other words, there is no automatic label on the type of…

nemployment when someone is counted as unemployed. Unemployment is an economic problem because of the concept of opportunity cost. Quite apart from any idea of consideration for others, unemployment is economic waste: A unit of labor resource that could be engaged in production is sitting idle. The GDP gap is the difference between what the economy could produce at its potential GDP and what it is producing, its actual GDP. The consequence of a negative GDP gap is that what is not produced the amount represented by the gapis lost forever. Moreover, to the extent that this lost production represents capital goods, the potential production for the future is impaired. Future economic growth will be less. The noneconomic effects of unemployment include the sense of failure created in parents and in their children, the feeling of being useless to society, of no longer belonging.



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