How is unemployment impacted by the phases of the business cycle?

Unemployment in the United States

  • How is unemployment calculated, and what is and is not included?
  • What were the unemployment numbers for the latest three quarters?
  • Why is unemployment mentioned in business news so often and used as an important metric for our economy?
  • What might cause the unemployment numbers to be questioned from an accuracy standpoint and a relevancy perspective?
  • How is unemployment impacted by the phases of the business cycle?