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AP Macro Economics

Ch.28 Unemployment

TermDefinition
Frictional Unemployment
Structural Unemployment
Government Employment Agencies Provide info. about job vacancies to speed up the matching of workers with jobs.
Public Training Programs Aim to equip workers displaced from declining industries with the skills needed in growing industries.
Cyclical Unemployment
Unemployment Insurance (UI) A government program that partially protects workers' incomes when they become unemployed.
Employed
Unemployed
Not in the Labor Force
Labor Force
Unemployment Rate
Labor Force Participation Rate
Natural Rate of Unemployment
Discouraged Workers
Job Search
Union A worker association that bargains with employers over wages, benefits, and working conditions.
Collective Bargaining
Strike
Efficiency Wages
Created by: Ash082695
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