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Ch.14 Unemployment

TermDefinition
Unemployed Actively searching for work in at least the last 4 weeks but are not currently employed.
Employed Those who have worked at least one hour in the previous two weeks.
Employed Those who have worked at least one hour in the previous two weeks.
Employed Those who have worked at least one hour in the previous two weeks.
Labor Force The number of employed persons plus the number of unemployed persons.
Labor Force The number of employed persons plus the number of unemployed persons.
Unemployment rate A percentage of the labor force that is not currently employed.
Unemployment rate A percentage of the labor force that is not currently employed.
Labor force participation rate The percentage of the working age population classified as either employed or unemployed.
Labor force participation rate The percentage of the working age population classified as either employed or unemployed.
Employment-to-population ratio The percentage of the working age population that is classified as employed.
Employment-to-population ratio The percentage of the working age population that is classified as employed.
Marginally attached workers People ready and available to work, who have conducted a job search within the past 12 months, but have not searched in the last 4 weeks.
Marginally attached workers People ready and available to work, who have conducted a job search within the past 12 months, but have not searched in the last 4 weeks.
''discouraged workers'' Unemployed people who do not meet a technical definition, so the official unemployment rate does not reflect their numbers.
U1 People unemployed 15 weeks or longer
''discouraged workers'' Unemployed people who do not meet a technical definition, so the official unemployment rate does not reflect their numbers.
U1 People unemployed 15 weeks or longer
U2 Those who have lost a job as apposed to those who have quit or those who have entered or re-entered the labor force.
U2 Those who have lost a job as apposed to those who have quit or those who have entered or re-entered the labor force.
U3 official unemployment published by
U3 official unemployment published by
Created by: Aniceto16
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