Respuesta :
Cyclical unemployment amounting to 0.5 percent of the labor force. Cyclical unemployment is the result of the overall unemployment rate being affected by an economic contraction or expansion.
What is the natural unemployment rate the natural unemployment rate?
When the economy's production is at its long-run average level, unemployment is at its natural rate. The average unemployment rate is the point at which the economy sways. The natural rate of unemployment increases as the rate of job separation increases. The lowest level of unemployment that a healthy economy can support without inducing inflation is known as the natural rate of unemployment. Structural unemployment, surplus unemployment, and frictional unemployment are the three parts of natural unemployment. Because companies would first increase salaries, zero unemployment is not possible.
Calculate the actual and natural rate of unemployment:
Actual rate of unemployment-Natural rate
Subtract the sum of the frictional and structural unemployment rates from the current unemployment rate to arrive at the cyclical unemployment rate.
5.2 percent and the actual rate of unemployment is 5.7 percent:
Formula is used to calculate the cyclical unemployment rate:
Cyclical unemployment=Actual rate of unemployment-Natural rate
When we add the provided data to the calculation above, we obtain:
Cyclical unemployment= 5.7% - 5.2%
Cyclical unemployment = 0.5%
In conclusion, cyclical unemployment is represented by the 0.5 percent of the labor force.
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