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Unemployment Matching
marginally attached workers
people ready and available to work, who have conducted a job search within the past twelve months, but have not searched in the last four weeks.
employed
those who have worked at least one hour in the previous two weeks.
cyclical unemployment
occurs because of contractions in the business cycle, and it is not voluntary
employment-to-population rate
percentage of working age population that is classified as employed
labor force
number of employed persons plus the number of unemployed persons.
U3
people who fall between the cracks of the official unemployment rate
U4
adds discouraged workers to official unemployment rate
natural rate of unemployment
suggests that in the long run, there is a level of unemployment that the economy maintains independent of the inflation rate.
U1
includes people unemployed fifteen weeks or longer
U2
includes people who have lost a job as opposed to those who have quit, or those who have entered or re-entered the labor force.
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Created by: mbonilla
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