Unemployment is generally sorted into four different types: frictional, cyclical, structural, and institutional.

The unemployment rate is calculated using a monthly survey that the Bureau of Labor Statistics uses to identify those who are employed or actively looking for work.

Over 1.9 million Americans—more than a quarter of those unemployed—have been classified as 'long-term' unemployed in a given month in 2026, meaning they've been out of work for at least 27 weeks.

Unions are organizations workers form to improve aspects of their working conditions

While there are many different types of labor unions, they are, generally speaking, organizations workers form to improve aspects of their working conditions, such as vacation time or discipline processes.

Explore an interactive tool that reveals why Americans are unemployed—almost 30% of unemployed Americans ages 25 to 54 cited being laid off as the reason for their unemployment, for instance.

The US youth unemployment rate jumped from 6.6% in 2023 to 10.4% in 2025.

Explore an interactive tool that provides regularly updated information on labor market outcomes of recent college graduates.

Unemployment benefits are calculated as a percentage of a worker's average weekly wages over a recent base period.

The clearest sign of a recession is a steady increase in job losses and high unemployment.

See which college degrees had the highest unemployment rates as of May 2025, with degrees in anthropology, physics, and computer engineering ranking high on the list.

The US Bureau of Labor Statistics releases a monthly 'jobs report' that tracks the unemployment rate, the number of Americans currently on payroll, and more.

Learn more about the four main market structures

In modern economic theory, there are four main market structures. Under each market structure, firms (or businesses) have differing levels of competition and reach different levels of price efficiency based on the consumer's willingness to pay for a product or service.

Experts recommend preparing your finances accordingly if you're expecting to be laid off soon, taking actions such as looking into the cost of replacing employer-sponsored benefits like healthcare.

Do unions still work?

Workers everywhere from Starbucks to Uber have made headlines about unionizing—and some union experts argue that despite union membership being lower than it was in eras past, unions could still help the economy.

COVID-19's shock to employment rates sparked some economists to fear deflation

COVID-19 simultaneously disrupted the supply chain and the labor market. Since the unemployment rate had hit record highs, some economists were worried that the supply chain would recover before the labor market. If that had happened, businesses would have been producing goods, but no one would have been able to buy them because they wouldn't have the disposable income to do so.

The US unemployment rate soared to over 24% during the Great Depression, the highest in recorded history.

The monthly US employment report is eagerly anticipated by Wall Street and has significant impacts on markets.

Union membership was 9.9% in 2024, the lowest in nearly 40 years.

Juliet Schor wrote an informative book about the gig economy: 'After the Gig'

In an interview, she explains that gig economy workers come in two groups: people who are earning supplemental income on the side of a full-time job, and people who depend on gig work for their entire incomes. As it turns out, those groups feel very differently about the gig economy.

The gig economy is a labor market in which workers earn money through on-demand jobs

These “gigs” are often temporary or flexible tasks, such as driving for Uber. Colloquially, the term “gig economy” usually refers to people doing jobs where they connect with people who request their services through an app.

The most common types of bankruptcy filings are Chapter 7, Chapter 11, and Chapter 13

However, there are actually six types in practice today. These less-common options can be lifelines for foreign businesses operating in the US, local governments, and farms and fisheries.

The number of people collecting money from gig work tripled between 2017 and 2021

That includes people driving for Lyft or delivering food through GrubHub. Those people might be changing the face of the US economy at large, too. Gig work provides a cushion between jobs outside of government unemployment assistance, for example.

A recession is commonly defined as two consecutive quarters of shrinking GDP, but in practice, these economic phenomena are more complex.

With roots stretching back to the 18th century, unions have long been at the center of change in labor rights.

There's no single definition of an economic recession, though recessions are commonly identified by two consecutive quarters of shrinking gross domestic product.

Watch Ray Dalio explain how the economy works

Dalio describes the economy as a machine that runs on three main cycles: productivity growth, the short-term debt cycle, and the long-term debt cycle. Dalio says layering these three cycles on top of each other essentially creates a template for understanding changes in the economy.

The Sahm rule attempts to predict recessions based on unemployment trends.

A 'bilateral monopoly' occurs when there's one supplier and one buyer in a market

Bilateral monopolies are often used to conceptualize labor markets in small towns. Using this concept, large employers have a monopoly over the labor market, while workers have a monopsony as the only available laborers.

See the percentage of employed workers who are union members in your state.

The US federal government employs roughly 3 million people

Tracking began in 1939, when the federal workforce consisted of about 1 million people. The total peaked in 1990 at 3.4 million, and hit a recent low in 2014 at 2.7 million.

According to the US Bureau of Labor Statistics, cashiers, office clerks, and customer service representatives face the largest potential workforce elimination by 2034.

27 states have right-to-work laws

That means employees in those states can choose whether or not to join a union at their workplace. Right-to-work laws also make it optional for employees in unionized workplaces to pay fees associated with union membership.

The term 'securities' refers to different types of investments, such as stocks or bonds.

Explore a list of some of the largest labor unions in the United States.

Retail investors are individuals who trade stock for themselves

Institutional investors, on the other hand, are investing for someone else. There are big differences between the two, one being that institutional investors can be granted certain special treatment (like being able to purchase IPOs right away).

In the 1970s, the US experienced a period of stagflation

It was characterized by high inflation, slow economic growth, and high unemployment. The crisis was triggered by a combination of factors, including loose monetary policy that spurred excess demand and spiraling oil prices caused by an OPEC embargo in 1973.

When your 9-to-5 becomes optional

You've seen the headlines. But what would actually happen if everyone's 9-to-5 became optional? We dug into the data. Traced automation philosophy back thousands of years. Examined what happened when elevator operators disappeared. Looked at Alaska's 40-year experiment paying every citizen. And investigated the Philippines, where 89% of call center jobs are now at risk. What we found was more positive than bleak. This video explores three questions: What does the data actually show? What does history tell us about this kind of disruption? And what happens when work becomes optional?

Full-time employees can cost up to 1.4 times as much as an independent worker.

The most common job in each US state in 2024

In 15 states, the most common job by number of employees is "fast food worker." Other most common jobs include cashiers and nurses.

There are four main types of IRAs to choose from

Those types are traditional, Roth, SEP, and SIMPLE. While all IRAs can help you save for retirement, each type has its own tax advantages and eligibility requirements, such as employment type or income level.

The US jobs projected to shrink the fastest over the next decade include typists and word processors.

Listen to legendary investor Marc Andreessen argue against the 'lump of labor fallacy,' the idea that there's a finite amount of work in an economy.

A V-shaped recovery from a recession is the most common kind

When charted, recession recoveries resemble letters including V, U, W, L, and K. For instance, an L-shaped recovery involves a steep decline that slowly reverses.

In a 'K-shaped' economy, higher earners' spending rises while lower earners' spending stagnates or decreases.

Does minimum wage hurt workers?

Many economists traditionally believed raising the minimum wage hurt workers more than helped them. They argued that doing so would lead to job losses believing that if something is more expensive (like labor), people (like business owners) would want to buy less of it. However, recent research suggests otherwise.

While critics of labor unions argue that unions make it difficult to discipline low performers and drive up labor costs, union advocates believe that unions are a useful tool for increasing workers' pay and benefits.

'Good deflation' happens when prices naturally track with supply, meaning prices change gradually

This tends to make products and services more affordable and normalizes the standard of living. Bad deflation usually happens when there are sudden changes to either supply or demand. Near-zero [interest rates helped create the real estate bubble that sparked the Great Recession when it crashed](https://www.youtube.com/watch?v=LMo9mD8j7IA&t=91s) Because deflation distorts the value of money, deflation is particularly harmful for borrowers. Low interest rates made it easy for businesses and everyday people to take on enormous debt, which exacerbated the effects of the recession.

See the US industries with the highest union membership rates.

The university system has an enrollment problem

Enrollment has dropped over the past few years—especially for men. In this Freakonomics podcast episode, educators and economists explain why they think college enrollment has been on the decline. They also offer solutions and make predictions for the future of college.

Interest rates have historically been an indicator of the US economy's overall health.

The gig economy has rapidly transformed the way millions of Americans work

Rooted in flexibility and on-demand, project-based jobs, it provides opportunities for both side hustles and full-time income streams, appealing especially to younger generations seeking greater autonomy over traditional office roles. While gig work offers freedoms like flexible hours and project choice, it often lacks benefits like healthcare and retirement plans.