This report analyzes the relationship between the unemployment rate and the business cycle in the United States. It discusses the different types of unemployment, including frictional, structural, and cyclical, and how they relate to the overall economy. The report highlights the current low unemployment rate in the US and attributes it to the expansion phase of the business cycle, influenced by factors like trade policies. The business cycle is described with its four phases: expansion, contraction, peak, and trough, providing a framework for understanding economic fluctuations. The report uses the current economic situation of the United States as a case study to show how the different phases of the business cycle affect unemployment rates and economic growth. The report references relevant sources to support its analysis.