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13-1 Vocab

QuestionAnswer
Unemployment Rate The percentage of the labor force that is jobless and looking for work.
Underemployed Part-time workers who want to work full-time or people working below their skill level.
Full employment Means no unemployment caused by decreased economic activity.
Frictional unemployment Temporary unemployment of people changing jobs.
Seasonal Unemployment Unemployment linked to seasonal work.
Structural Unemployment When jobs exist but do not match the skills of available workers.
Cyclical Unemployement Unemployment caused by a part of the business cycle with decreased economic activity.
Created by: joannw15