The natural rate of unemployment (also known as NAIRU – Non-Accelerating Inflation Rate of Unemployment) is the theoretical unemployment rate that doesn't accelerate inflation in an economy. It's a blend of frictional and structural unemployment that persists even when the economy is at its "natural" or full employment level. Calculating the exact natural rate is complex and relies on economic modeling, but this calculator provides a simplified representation based on key components.
#natural-unemployment-calculator {
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.form-group input {
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button {
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button:hover {
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#result {
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function calculateNaturalUnemployment() {
var frictionalRateInput = document.getElementById("frictionalRate");
var structuralRateInput = document.getElementById("structuralRate");
var resultDiv = document.getElementById("result");
var frictionalRate = parseFloat(frictionalRateInput.value);
var structuralRate = parseFloat(structuralRateInput.value);
if (isNaN(frictionalRate) || isNaN(structuralRate) || frictionalRate < 0 || structuralRate < 0) {
resultDiv.innerHTML = "Please enter valid positive numbers for both rates.";
return;
}
// The natural rate of unemployment is typically the sum of frictional and structural unemployment.
// Cyclical unemployment is considered zero at the natural rate.
var naturalRate = frictionalRate + structuralRate;
resultDiv.innerHTML = "Calculated Natural Rate of Unemployment: " + naturalRate.toFixed(2) + "%";
}