| Term | Definition |
|---|---|
Employed | Currently holds a job, does not have to be paid (e.g. family business) |
Unemployed | Does not have a job but has looked for work in the past four weeks. This group is included in the overall labor force |
Underemployed | Involuntarily working part-time hours, they are employed but this could understate unemployment as they are not working to their desired capacity |
Marginally Attached Workers | Has looked for a job in the last 12 months, but has not looked in the last four weeks. They are not included in the labor force |
Discouraged Workers | They want a job but stopped looking due to limited prospects, or the belief that prospects are limited |
Frictionally Unemployed | Temporarily unemployed because seasonal issues, lay off, or other such problems |
Structurally Unemployed | Longer standing issues that keep workers who want jobs from obtaining them. Could be a set of new technical skills, a need for higher pay, so on. |
Cyclical Unemployment | Unemployment that follows recessions and loss of jobs as a result. |
Change in the money supply can be calculated by? | Dividing the DEPOSIT by the RESERVE RATIO and adding the change in the MONETARY BASE |