Economics: Unemployment

 


Note: ** A better way to understand unemployment is the difference of workers who are willing to work and want jobs versus the number of job openings at a certain wage where the wage itself is sticky because of labor unions, contracts etc.
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Relevant Background: Economics is the study of how humans make decisions in the face of scarcity. These can be individual decisions, family decisions, business decisions or societal decisions..” (Shapiro et al, 2022)


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Reference
Shapiro, D., MacDonald, D., Greenlaw, S. A., Dodge, E., Gamez, C., Jauregui, Andres., Keenan, D., Moledina, A., Richardson, C., & Sonenshine, R. (2022). OpenStax
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