UnemploymentMain article: Unemploym

Unemployment
Main article: Unemployment
The percentage of the US population employed, 1995–2012.
The amount of unemployment in an economy is measured by the unemployment rate, the percentage of workers without jobs in the labour force. The labour force only includes workers actively looking for jobs. People who are retired, pursuing education, or discouraged from seeking work by a lack of job prospects are excluded from the labour force. Unemployment can be generally broken down into several types that are related to different causes.[71]
Classical models of unemployment occurs when wages are too high for employers to be willing to hire more workers. Wages may be too high because of minimum wage laws or union activity. Consistent with classical unemployment, frictional unemployment occurs when appropriate job vacancies exist for a worker, but the length of time needed to search for and find the job leads to a period of unemployment.[71]
Structural unemployment covers a variety of possible causes of unemployment including a mismatch between workers' skills and the skills required for open jobs.[72] Large amounts of structural unemployment can occur when an economy is transitioning industries and workers find their previous set of skills are no longer in demand. Structural unemployment is similar to frictional unemployment since both reflect the problem of matching workers with job vacancies, but structural unemployment covers the time needed to acquire new skills not just the short term search process.[73]
While some types of unemployment may occur regardless of the condition of the economy, cyclical unemployment occurs when growth stagnates. Okun's law represents the empirical relationship between unemployment and economic growth.[74] The original version of Okun's law states that a 3% increase in output would lead to a 1% decrease in unemployment.[75]

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PengangguranArtikel utama: pengangguranPersentase penduduk AS bekerja, 1995 – 2012.Jumlah pengangguran dalam perekonomian yang diukur dengan tingkat pengangguran, persentase pekerja tanpa pekerjaan di tenaga kerja. Tenaga kerja hanya mencakup pekerja secara aktif mencari pekerjaan. Orang-orang yang adalah pensiun, mengejar pendidikan, atau kecewa dari mencari pekerjaan oleh kurangnya pekerjaan prospek dikecualikan dari tenaga kerja. Pengangguran dapat umumnya dibagi menjadi beberapa jenis yang berkaitan dengan penyebab yang berbeda. [71]Model klasik pengangguran terjadi ketika upah terlalu tinggi untuk majikan harus bersedia untuk sewa lebih banyak pekerja. Upah mungkin terlalu tinggi karena upah minimum hukum atau kegiatan Serikat. Konsisten dengan klasik pengangguran, pengangguran friksional terjadi ketika ada lowongan pekerjaan yang sesuai bagi pekerja, tapi lama waktu yang diperlukan untuk mencari dan menemukan pekerjaan mengarah pada periode pengangguran. [71]Pengangguran struktural mencakup berbagai kemungkinan penyebab pengangguran termasuk ketidaksesuaian antara pekerja keahlian dan keterampilan yang dibutuhkan untuk membuka lapangan kerja. [72] jumlah pengangguran struktural dapat terjadi ketika ekonomi sedang dalam proses peralihan industri dan pekerja menemukan set keterampilan mereka sebelumnya tidak lagi dalam permintaan. Pengangguran struktural ini mirip dengan pengangguran friksional karena keduanya mencerminkan masalah pekerja yang cocok dengan lowongan pekerjaan, tetapi pengangguran struktural mencakup waktu yang dibutuhkan untuk memperoleh keterampilan baru tidak hanya proses pencarian jangka pendek. [73]While some types of unemployment may occur regardless of the condition of the economy, cyclical unemployment occurs when growth stagnates. Okun's law represents the empirical relationship between unemployment and economic growth.[74] The original version of Okun's law states that a 3% increase in output would lead to a 1% decrease in unemployment.[75]