A theoretical and empirical investigation of unemployment experience among a cross section of individuals. A conceptual framework is provided that can accommodate a variety of theoretical approaches and furnish a means of translating among various weekly and annual measures of unemployment experience. Markov models of job search and investment in firm-specific human capital are given. Empirical work is based on the 1967 Survey of Economic Opportunity. Regression results are discussed by race and sex for each of the dependent variables: annual probability of unemployment, annual weeks of unemployment among unemployed persons, and weekly probability of employment. Via the conceptual framework, the regressions predict the weekly probabilities of entering and leaving unemployment and the weekly unemployment rate, each as a function of industry, occupation, location, and personal characteristics. 114 pp.