Unemployment Word Scramble
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| Term | Definition |
| Unemployed | those that have actively searched for work for the past 4 weeks but have not found work |
| employed | those that have worked at least 1 hour in the past two weeks |
| labor force | the number of employed and unemployed |
| unemployment rate | percentage of labor force that are not employed |
| labor force participation rate | percentage of the working age population classified as either employed or unemployed |
| employment-to-population ratio | percentage of working age population that is classified as employed |
| marginally attached workers | people that are ready and available to work that have searched for a job in the past 12 months but not in the past 4 weeks; therefore not included in official unemployment statistics |
| discouraged workers | people that have given up the job search and are not officially classified as unemployed |
| U1 | unemployment rate that includes those unemployed for 15 weeks or longer |
| U2 | unemployment rate of those that have lost a job |
| U3 | official unemployment rate |
| U4 | the unemployment rate that adds the discouraged workers |
| U5 | includes all marginally attached workers |
| U6 | includes those listed in U1-U5 plus those employed part time |
| frictional unemployment | voluntary unemployment that occurs when someone enters the labor force and looks for a job |
| structural unemployment | unemployment caused by the permanent destruction of jobs |
| creative destruction | the process of technological innovation and industrial decline that frees up the land, labor, capital, and entrepreneurship that can be employed in the new industry |
| efficiency wages | wages that exceed the market wages |
| cyclical unemployement | unemployment associated with the downturns in the business cycle |
| full employment | the level of unemployment that exists when the economy is being productively efficient |
| natural rate of unemployment | the rate of employment that exists when there in no cyclical unemployment present in the economy |
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