Econ

Created by garc1423

Employed
Currently holds a job, does not have to be paid (e.g. family business)

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TermDefinition
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