Module 12 Flashcards
1
Q
Employed
A
Having a full or part time job
2
Q
Unemployed
A
Jobless, looking for a job, and available for work
3
Q
Labor force participation rate
A
Amount of working age population in the labor force
Labor force / population age >= 16
4
Q
How the unemployment rate can understate the true level of unemployment
A
1) discouraged workers
2) marginally attached workers
3) underemployed
5
Q
Discouraged workers
A
No working people who are capable of working but have given up looking for a job because of the state of the job market
6
Q
Marginally attached workers
A
People who would like to be employed but have given up in the recent past and are not currently looking for work
7
Q
Underemployed
A
People who work part time because they cannot find full time jobs
