Unemployment the Big Problem

Okun's law states that for every 3% GDP falls relative to potential GDP, unemployment rises 1% (of the total workforce). When the economy operates at productive capacity, it will experience the natural rate of unemployment.[3] U= ^u-h[100(y/yn)-100]...

An episode of the The Numbersman Show podcast, hosted by Numbersman, titled "Unemployment the Big Problem" was published on October 19, 2009 and runs 90 minutes.

October 19, 2009 ·90m · The Numbersman Show

Summary

Okun's law states that for every 3% GDP falls relative to potential GDP, unemployment rises 1% (of the total workforce). When the economy operates at productive capacity, it will experience the natural rate of unemployment.[3]U= ^u-h[100(y/yn)-100] ( Wikipedia)

Episode Description