Unemployment, GDP, and Inflation

By: Michelle Nelson

Unemployment

People available for work who made a specific effort to find a job during the past month and who, during the most recent survey week, worked less than one hour for pay or profit.

Inflation

A special kind of economic instability, one that deals with changes in the level of prices rather than the level of employment and out put.

How does inflation GDP?

Inflation hurts GDP because of the value of the dollar goes down and isn't worth that much. By the cost of the dollar going down it is hard to keep being able to provide a living due too the fact of the cost of living going up. Once GDP grows up we are at a very high risk in going into a great depression.

Types of unemployment

Frictional Unemployment- Unemployment caused by workers who are between jobs for one reason or another.

Structural Unemployment- Unemployment that occurs when the economy reduces the demand for workers and their skills.

Cyclical Unemployment- unemployment directly related to swings in the business cycle.

Seasonal Unemployment- Unemployment resulting from changes in the weather or changes in the demand for certain products.

Technological Unemployment- Unemployment caused when workers with less skills, talents, or education are replaced by machines and other equipment that do their jobs.

Work cited

"Inflation, Money Supply, GDP, Unemployment and the Dollar - Alternate Data Series."Shadow Government Statistics RSS. N.p., n.d. Web. 11 Apr. 2014.

"The Importance Of Inflation And GDP." Investopedia. N.p., n.d. Web. 11 Apr. 2014.

"Federal Reserve Bank of San Francisco." Federal Reserve Bank San Francisco. N.p., n.d. Web. 11 Apr. 2014.