Macroeconomics In Unemployment

The trends in unemployment affect three important macroeconomics variables: 1) gross domestic product (GDP), 2) unemployment rate, and 3) the inflation rate.
The basic definition of unemployment is without work. In macroeconomics, unemployment has a very precise definition and different types of unemployment. Unemployment is defined as the total number of adults (aged 16 years or older) who are willing and able to work and who are actively looking for work but have not found a job. (Miller 140).
Gross domestic product (GDP) is one of the best ways to measure how a country’s economy is doing. A main component in figuring the GDP is personal consumption expenditures. Personal consumption expenditures accounts for about two-thirds of domestic

2017 Feb.
2017 Mar.
2017 Apr.
2017 May
2017
U-1 Persons unemployed 15 weeks or longer, as a percent of the civilian labor force 2.0 1.8 1.8 1.9 1.9 1.8 1.7 1.7 1.8
U-2 Job losers and persons who completed temporary jobs, as a percent of the civilian labor force 2.1 2.1 1.9 2.3 2.3 2.3 2.2 2.2 2.1
U-3 Total unemployed, as a percent of the civilian labor force (official unemployment rate) 4.5 4.1 4.1 4.7 4.8 4.7 4.5 4.4 4.3
U-4 Total unemployed plus discouraged workers, as a percent of the civilian labor force plus discouraged workers 4.9 4.4 4.3 5.0 5.1 5.0 4.8 4.7 4.5
U-5 Total unemployed, plus discouraged workers, plus all other persons marginally attached to the labor force, as a percent of the civilian labor force plus all persons marginally attached to the labor force 5.6 5.0 5.0 5.7 5.8 5.7 5.4 5.3 5.2
U-6 Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force 9.4 8.1 8.1 9.7 9.4 9.2 8.9 8.6

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"Bureau of Labor Statistics Data." U.S. Bureau of Labor Statistics. U.S. Bureau of Labor Statistics, n.d. Web. 04 July 2017.
Clark, Todd and Christian Garciga. "Recent Inflation Trends." Economic Trends (07482922), 14 Jan. 2016, pp. 5-11. EBSCOhost, cco.idm.oclc.org/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=aph&AN=112325646&site=ehost-live.
Ejim, Esther, and Kaci Lane Hindman. "What Is the Relationship between GDP and Unemployment Rates?" WiseGEEK. Conjecture Corporation, 13 June 2017. Web. 04 July 2017.
"How the Government Measures Unemployment." U.S. Bureau of Labor Statistics. U.S. Bureau of Labor Statistics, n.d. Web. 04 July 2017.
"Macroeconomics/Employment and Unemployment." Macroeconomics/Employment and Unemployment - Wikibooks, Open Books for an Open World. N.p., n.d. Web. 04 July 2017.
Miller, R.L. (2014). Economics Today: The Macro View 17th Edition. NJ: Pearson Education, Inc.
"Table A-15. Alternative Measures of Labor Underutilization." U.S. Bureau of Labor Statistics. U.S. Bureau of Labor Statistics, n.d. Web. 04 July