Glossary · Macro · Unemployment
Okun's law
The rule of thumb linking output to unemployment: each percentage point of unemployment above the natural rate goes with output roughly 2 percent below potential. It is a regularity in the data rather than a law of nature.
Related terms
More from unemployment
Definitions are the start
See the term used, not just defined.
The full course teaches every term in context, with worked examples, interactive graphs and practice questions that remember what you get wrong.