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Unemployment vocab

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Term
Definition
Unemployed   show
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Employed   show
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Labor force   show
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show % o the labor force that is not currently employed  
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show % of the working age population classified as either employed or unemployment  
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show % of the working age population that is classified as employed  
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show Ready and available to work  
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Discouraged workers   show
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U3   show
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show People unemployed 15 weeks or longer  
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show People who have lost a job  
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show Discouraged workers to the official unemployment rate  
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show Marginal attached workers  
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U6   show
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show When people voluntarily enter the labor force, or when they are between jobs for which they are qualified  
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show When job seekers' skills sets are not in demand because of geography or obsolescence  
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Efficiency wages   show
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show Occurs because of contractions in the business cycle  
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show When cyclical unemployment is not present in the economy  
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show In the long run there is a level of unemployment that the economy maintains independent of the inflation rate  
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  show
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Created by: esalas15
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