Unemployment (Ch 14)
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | The condition of not having a job but being a member of the labor force.
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| Employed | show 🗑
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| show | The number of employed persons plus the number of unemployed persons.
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| show | This rate is equal to the number of unemployed persons divided by the number of people in the labor force.
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| show | The labor force divided by the working age population.
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| Employment-to-population ratio | show 🗑
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| show | These are 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 and are therefore not included in official unemployment statistics.
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| show | People who, for whatever reason, have given up the job search and are not officially classified as unemployed. The presence of discouraged workers in the economy means that the official unemployment rate understates actual employment.
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| show | The unemployment rate that only includes people unemployed fifteen weeks or longer, as published by the BLS.
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| show | The unemployment rate that only includes people who have lost a job as opposed to those who have quit or those who have entered or re-entered the labor force, as published by the BLS.
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| U3 | show 🗑
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| show | The unemployment rate that adds discouraged workers to the official unemployment rate, as published by the BLS.
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| show | The unemployment rate that includes all marginally attached workers, as published by the BLS.
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| U6 | show 🗑
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| Frictional Unemployment | show 🗑
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| Structural Unemployment | show 🗑
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| show | The ongoing process of technological innovation and industrial decline. As one industry is being born, another industry is dying. The death of an old industry frees up the land, labor, capital, and entrepreneurship that can now be employed.
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| Efficiency Wages | show 🗑
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| Cyclical Unemployment | show 🗑
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| show | The level of employment that exists when the economy is being productively efficient. Full employment is associated with an economy at the natural rate of unemployment.
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| show | The rate of natural unemployment that exists when there is no cyclical unemployment present in the economy. The natural rate of unemployment is thought to be independent of the inflation rate.
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Created by:
gmccollum
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