Eco- Unemployment Word Scramble
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| Term | Definition |
| employed | anyone 16 or older working at least 1 hour legally |
| unemployed | anyone 16 or older actively seeking work |
| labor force | anyone 16 or older working legally or actively seeking work |
| labor force participation rate | % of the population 16 or older in the labor force |
| unemployment rate | % of the labor force looking for work |
| frictional unemployment | -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 |
| structural unemployment | -job is eliminated & probably not coming back -people who lack skills or don't have sufficient edu. (new technology comes) |
| cyclical unemployment | arises during a RECESSION due to LAYOFFS & TEMPORARY decrease in demand |
| full employment | only frictional & structural |
| "actual unemployment" | -exists currently in an economy **frictional + structural + cyclical** |
Created by:
bbell123
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