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13-1 Vocab
Question | Answer |
---|---|
Unemployment Rate | The percentage of the labor force that is jobless and looking for work. |
Underemployed | Part-time workers who want to work full-time or people working below their skill level. |
Full employment | Means no unemployment caused by decreased economic activity. |
Frictional unemployment | Temporary unemployment of people changing jobs. |
Seasonal Unemployment | Unemployment linked to seasonal work. |
Structural Unemployment | When jobs exist but do not match the skills of available workers. |
Cyclical Unemployement | Unemployment caused by a part of the business cycle with decreased economic activity. |