How to Identify Unemployment | Macroeconomics

When taking a look at the real economy in the long run, it's important to understand what unemployment is and how it is identified. In this video, we'll take a look at long run production, including price flexibility and economic growth; then the types of unemployment, including frictional, seasonal, structural, and cyclical. We'll also look at theories relating to unemployment, and the unemployment rate.

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00:00 Intro
00:47 What is the long run?
02:53 Economic growth drivers
05:23 Types of unemployment
09:34 The natural rate of unemployment