Economics Chpt. 14
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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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