8. Unemployment and Inflation

8. Unemployment and Inflation - Unemployment and Inflation...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Unemployment and Inflation - Labor Force the sum of employed and unemployed workers in the economy- Unemployment Rate the percentage of the labor force that is unemployed Unemployment Rate = ((number of unemployed)/ (Labor Force)) X100- Discouraged Workers people who are available for work but have not looked for a job during the previous four weeks because they believe no jobs are available for them- Labor Force Participation Rate measures the percentage of the working-age population in the labor force Labor Force Participation Rate = ((labor Force)/ (Working-Age Population)) X100- Frictional Unemployment short-term unemployment that arises from the process of matching workers with jobs- Structural Unemployment Unemployment arising from a persistent mismatch between the skills and attributes of workers and the requirements of jobs- Cyclical Unemployment Unemployment caused by a business cycle recession- Natural Rate of Unemployment the normal rate of unemployment consisting of...
View Full Document

This note was uploaded on 01/19/2012 for the course CIT 230 taught by Professor Staff during the Fall '08 term at Oakland University.

Page1 / 2

8. Unemployment and Inflation - Unemployment and Inflation...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online