Natural rate of unemployment
id:
natural-rate-of-unemployment-314-18197045
title:
Natural rate of unemployment
text:
The natural rate of unemployment is the name that was given to a key concept in the study of economic activity. Milton Friedman and Edmund Phelps, tackling this 'human' problem in the 1960s, both received the Nobel Memorial Prize in Economic Sciences for their work, and the development of the concept is cited as a main motivation behind the prize. A simplistic summary of the concept is: 'The natural rate of unemployment, when an economy is in a steady state of "full employment", is the proportio
brand slug:
wiki
category slug:
encyclopedia
description:
Key concept in the study of economic activity
original url:
https://en.wikipedia.org/wiki/Natural_rate_of_unemployment
date created:
date modified:
2023-09-23T13:12:21Z
main entity:
{"identifier":"Q1971758","url":"https://www.wikidata.org/entity/Q1971758"}
image:
fields total:
13
integrity:
14