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Economics Chpt. 14

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Term
Definition
show person sixteen years of age or older who have actively searched for work in the last four weeks, but are not currently employed.  
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show those who have worked at least one hour in the previous two weeks.  
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labor force   show
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show percentage of the labor force that is not currently employed  
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show percentage of the working age population classified as either employed or unemployed  
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show percentage of working age population that is classified as employed  
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show 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.  
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discouraged workers   show
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U3   show
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show includes people unemployed fifteen weeks or longer  
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U2   show
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U4   show
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U5   show
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show most all inclusive measure of unemployment and includes all of the above plus those who are employed part time because of economic reasons  
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show occurs when people voluntarily enter the labor force, or when they are between jobs for which they are qualified  
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show occurs when job seekers' skill sets are not in demand because of geography or obsolescence  
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show old technologies and industries are destroyed, which frees up resources for new technology and its industry  
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show those that exceed the equilibrium market wage, which encourages worker productivity  
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show occurs because of contractions in the business cycle, and it is not voluntary  
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full employment   show
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natural rate of unemployment   show
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