The natural rate of unemployment (NRU) is the unemployment rate that exists in an economy when it is
Tag: natural rate of unemployment
full employment
Full employment refers to the level of employment in an economy where it operates at its potential output,
frictional unemployment
Frictional unemployment refers to the short-term and temporary unemployment that occurs when workers are transitioning between jobs, often
structural unemployment
Structural unemployment refers to a type of unemployment caused by fundamental shifts in the economy’s structure, such as