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- W2886646670 abstract "The unemployment rate increased to 6.1 percent in September from 5.7 percent a month earlier. Just a few months ago, in May, the rate experienced another sharp rise, from 5.0 to 5.5 percent. A year ago, the unemployment rate was just 4.7 percent. Such movements in the unemployment rate are not unusual by any measure, and they have been studied for a long time. For the past 60 years, the unemployment rate has varied between 2.5 percent and 10.8, rising during recessions and falling during expansions. This pattern makes it what economists call a countercyclical variable. Typically, the rate rises sharply at the onset of a recession, but it usually takes a while for the rate to drop back down once the recession ends. These cyclical fluctuations in the unemployment rate are a robust feature of the data, and even though the timing of the ups and downs changes somewhat across different historical episodes, the clear countercyclical pattern tends to hold." @default.
- W2886646670 created "2018-08-22" @default.
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- W2886646670 date "2008-09-19" @default.
- W2886646670 modified "2023-09-24" @default.
- W2886646670 title "Trend Unemployment and What It Says about Unemployment Patterns" @default.
- W2886646670 hasPublicationYear "2008" @default.
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