The rate of unemployment that exists when there is no cyclical unemployment present in the economy.
Cyclical unemployment
Unemployment associated with downturns in a business cycle.
Employment to population ratio
the percentage of the working age population that is classified as employed
U6
the most all inclusive measure of unemployment.
U5
unemployment rate that includes all marginally attached workers
U4
unemployment rate that adds discouraged workers to the official unemployment rate
Structural unemployment
Unemployment that is caused by the permanent destruction of jobs in a dying industry, a mismatch between the skills necessary for employment and the seekers skill sets.
labor force
number of employed plus unemployed people age sixteen and over
