This video introduces the economic definition of unemployment and shows how to calculate the unemployment rate as well as a few other related statistics. It also gives a few reasons why the typical measure of unemployment can understate the true rate of unemployment. For more information and a complete listing of videos by topic or textbook chapter, see http://www.economistsdoitwithmodels.com/economics-classroom/ For t-shirts and other merch, see http://www.economistsdoitwithmodels.com/merch/ By Economists Do It With Models http://www.economistsdoitwithmodels.com Facebook: http://www.facebook.com/economistsdoitwithmodels Twitter: http://www.twitter.com/jodiecongirl
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