D S W0 L0 $12.00 Quantity of labor (thousands of workers) Wage rate ($ per hour) Surplus of labor (unemployment) ↕ Wage fixed at $12.00: employers hire 4,000 workers, but 10,000 want work at that wage. Surplus of 6,000 — unemployment created by holding the wage above market-clearing.

Drag the wage line up or down (or focus it and use the arrow keys). Above $9.00 it is a floor; below, a ceiling.