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Unemployment and Employment

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Term
Definition
show Persons 16 years or older who have looked for work in the last four weeks and are not currently employed  
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show People who have worked at least one hour in the last two weeks  
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Labor Force   show
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Unemployment rate   show
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Labor force participation rate   show
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show The percentage of the working age population that is classified as employed  
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show People who have conducted a job search in the past twelve months but have not searched in the last twelve weeks  
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U1   show
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U2   show
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show Official unemployment rate  
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show Includes U3, and discouraged workers  
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show Includes U3, and marginally attached workers  
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show Includes U1-5, and part-time workers  
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show When people voluntarily enter the work force, in between jobs they are qualified for  
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Structural Unemployment   show
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show When old technologies and industries die out due to innovation, freeing resources for new technologies and industries  
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show Wages that exceed equilibrium market wage  
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show Contractions in the business cycle  
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show When cyclical employment is not present in the economy  
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show The level of unemployment the economy maintains independent of inflation  
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Discouraged Workers   show
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