Unemployment Word Scramble
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| Term | Definition |
| unemployed | 16 years or older, if they actively search for work in the last 4 weeks and are not currently employed |
| employed | worked 1 hour in the previous 2 weeks |
| labor force | number of employed persons plus the number of unemployed persons |
| unemployment rate | percentage of labor force that is not currently employed |
| labor force participation rate | percentage of the working age population classified as either employed or unemployed |
| employment-to-population ratio | the percentage of the working age population that's classified as employed |
| marginally attached workers | people ready and available to work, who have conducted a job search within the past past 12 months, but haven't searched in the past 4 weeks |
| discouraged workers | unemployed in general sense |
| U3 | measure those who fall between cracks of the official rate |
| U1 | includes people unemployed 15 weeks or longer |
| U2 | includes people who have lost a job |
| U4 | adds discouraged workers to official unemployment rate |
| U5 | all marginally attached workers |
| U6 | all-inclusive measure of unemployment and includes all of the above plus employed part-time because of economic reasons |
| frictional unemployment | people voluntarily enter the labor force or they are between jobs they qualify for |
| structural unemployment | job seekers skill sets are not in demand because of geography or obsolescence |
| creative destruction | structural unemployment often is the outcome of this |
| efficiency wages | exceed the equilibrium market wage, encourage worker productivity |
| cyclical unemployment | contractions in business cycle, viewed as harmful |
| full employment | when cyclical unemployment is not present in the economy |
| natural rate of unemployment | rate of unemployment that exists when no cyclical unemployment present in economy |
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anunez15
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