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Intro to Business MB
Term | Definition |
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Annual | recurring, done, or performed every year; yearly |
Greater than full time | more than 40 hours per week; see Work schedules |
High school diploma or equivelant | award or credential that is equivalent to a high school diploma; see Education |
Labor force | the sum of all persons 16 years and older in the civilian noninstitutional population who are either employed, or unemployed but available for work and actively looking for work |
Licenses | permissions granted by government agencies or other accrediting bodies that allow someone to work in a particular occupation or perform certain duties |
Occupational earnings | opportunities to enter an occupation; openings occur when occupations grow, creating new jobs, and when workers leave an occupation permanently, resulting in the need to replace them |
Supply of workers | the number of people in the labor force; for most occupations, the supply of workers is smaller than the total number in the labor force because the supply is limited to those with particular education or training requirements |
Training | see On-the-job training |
Union Membership | the group of workers who join labor unions, hold union memberships, and enjoy benefits of the organized, coordinated efforts of the union to improve the work environment; also, the status of being a member of a union |
Vocational school | a secondary school that teaches vocational trades, such as construction trades; vocational schools may or may not award degrees |