Posted: April 12th, 2016

What is the definition of unemployed?

What is the definition of unemployed?
Do different polling and statistics organizations use different definitions?
In your opinion, how should unemployment be calculated?
Why is the unemployment rate such an oft cited measure in economics?
How does unemployment affect other measures of the economy, like labor supply, demand and GDP?
What are the psychological and economic effects of high or low unemployment numbers?
What actions should state take when its unemployment rate is higher than the national average?