Types of Unemployment: Frictional, Structural, Cyclical, and Seasonal

The video explains how unemployment is linked to personal and national issues, and how it serves as an economic indicator. It covers the calculation of the unemployment rate and the four types of unemployment: frictional, structural, cyclical, and seasonal. The concept of full employment and the issues of underemployment and discouraged workers are also discussed, highlighting the complexities of measuring unemployment accurately.

What is seasonal unemployment and in which industries is it most common?

What does the term 'underemployed' refer to in the context of the labor market?

Why can the unemployment rate be misleading according to the text?