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7 Cards in this Set
- Front
- Back
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unemployment rate
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the percentage of the labor force that is jobless and looking for work
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underemployed
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people who work fewer hours than desired or beneath their skill level
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full employment
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zero cyclical unemployment, a rate of about 4-5%
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frictional unemployment
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temporary unemployment caused by people changing jobs
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structural unemployment
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a job/skill mismatch, caused by changing technologies and outdated skills
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seasonal unemployment
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unemployment linked to seasonal work
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cyclical unemployment
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caused by decreased economic activity, or a downturn in the business cycle
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