Eco- Unit 3--unemployment
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| show | anyone 16 or older working at least 1 hour legally
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| unemployed | show 🗑
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| show | anyone 16 or older working legally or actively seeking work
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| labor force participation rate | show 🗑
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| show | % of the labor force looking for work
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| show | -person has chosen to be unemployed
-people temporarily between jobs; may have quit one job to find another; finding best opportunity after high school or college
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| show | -job is eliminated & probably not coming back
-people who lack skills or don't have sufficient edu.
(new technology comes)
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| show | arises during a RECESSION due to LAYOFFS & TEMPORARY decrease in demand
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| full employment | show 🗑
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| "actual unemployment" | show 🗑
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