00:01
So here we are talking about unemployment and in particular the unemployment rate.
00:04
And the unemployment rate is defined as the number of people who are unemployed over the labor force.
00:15
And the labor force is the number of people who are unemployed and the number of people who are employed, right? so the other thing we should know, to be unemployed you must be actively searching, right? to be counted as unemployed, you must have made active efforts to look for a job in the last four weeks.
00:42
And so that is to say you are not discouraged.
00:45
You see this number of discouraged workers here.
00:47
This is people who don't have a job, but they have given up looking for a job.
00:51
If you have stopped looking for a job, you do not count as unemployed.
00:55
So here we just need to sort of pick out the people.
00:59
We have the labor force is equal to 150...