Vocab
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Unemployed | People 16yrs+ who have actively searched for work in the last 4 weeks but are not currently employed
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| Employed | People who have worked at least 1hr in the previous 2 weeks
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| Labor Force | Number of employed people plus number of unemployed people
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| Unemployment Rate | Percentage of labor force that is not currently employed
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| Labor Force Participation Rate | Percentage of working age population classified as either employed or unemployed
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| Employment-to-Population Ratio | Percentage of working age population that is classified as employed
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| Marginally Attached Workers | People ready & available to work who have conducted a job search in the last year, but not in the last month
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| Discouraged Workers | People who have given up the job search in frustration and don't meet unemployment qualifications
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| U3 | Official unemployment rate
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| U1 | Unemployed 15 weeks or longer
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| U2 | Lost a job as opposed to quit or reentered the labor force
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| U4 | Adds discouraged workers to official unemployment rate
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| U5 | All marginally attached workers
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| U6 | Inclused U1-5 plus people employed part-time because of economic reasons
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| Frictional Unemployment | Voluntarily enter the work force or are between jobs they are qualified for
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| Structural Unemployment | When job seekers' sill sets are not in demand because of geography or obsolescence
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| Creative Destruction | Happens when innovation occurs, and old technologies & industries are destroyed
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| Efficiency Wages | Those that exceed the equilibrium market wage
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| Cyclical Unemployment | Occurs because of contractions in the business cycle
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| Full Employment | Occurs when cyclical unemployment isn't present in the economy
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| Natural Rate of Unemployment | In the long run, a level of unemployment that the economy maintains independent of the inflation rate
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To hide a column, click on the column name.
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You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
Hannah W
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