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The hazard function shows

the probability of an individual's escape from unemployment during a given period, conditional on that individual being unemployed at the start of the period
the probability of an individual's escape from unemployment during a given period, unconditional on that individual being unemployed at the start of the period
the probability of an individual's escape from unemployment during a given period, conditional on that individual being unemployed at the end of the period
none of the above

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