1. Business Cycle and Unemployment

3. Hypothetical Business Cycle Peak Peak Trough Recession Recovery Growth trend line

6. Total Population age 16 and over Not in Labor Force Armed forces Household workers Students Retirees Persons with disabilities Institutionalized Discouraged workers Civilian labor force Employed Employees Self-employed Unemployed New entrants Re-entrants Lost last job Quit last job Laid off

8. 20 15 10 5 1930 40 50 60 25 70 80 90 00 The U.S. Unemployment Rate