Chapter 14 Word Scramble
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| Term | Definition |
| Unemployed | You've been actively searching for work for more than four weeks and are currently not employed |
| Employed | You've worked at least one hour in the past two weeks |
| Labor Force | The number of employed persons plus the number of unemployed persons |
| Unemployment Rate | The percentage of the labor force that isn't employed |
| Employment-to-Population Ratio | The percentage of the working age population that is considered employed |
| Marginally Attached Workers | People who are available to work, have been conducting a job search in the past year, but haven't searched in the last for weeks |
| Discouraged Workers | Unemployed, but the official unemployment rate doesn't reflect their numbers |
| Frictional Unemployment | When people voluntarily enter the labor force |
| Structural Unemployment | When job seeker's skills aren't in demand because of geography |
| Efficiency Wages | Wages that exceed the equilibrium market wage |
| Cyclical Unemployment | Being let go because of major budget cuts |
| Full Employment | When people all have structured jobs |
| Natural Rate of Unemployment | Level of unemployment that in the long run the economy maintains independent of the inflation rate |
| U3 | Those who fall between the cracks of the official unemployment rate |
| U1 | Those who are unemployed 15 weeks or longer |
| U2 | Those who have lost a job |
| U4 | Those who are discouraged workers |
| U5 | Those who are marginally attached workers |
| U6 | All of the other categories, plus those unemployed from economic reasons |
| Creative Destruction | Old technologies and industries are destroyed and replaced with newer ones |
| Labor Force Participation Rate | The percentage of the working age classified as employed or unemployed |
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