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13-1 Vocab
| Question | Answer |
|---|---|
| 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. |