Employment Concepts

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FULL EMPLOYMENT

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The condition in which all available labor resources are being used in the most efficient way possible.

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PARTIAL EMPLOYMENT

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A situation where individuals are working less than they would like or are in jobs that do not utilize their skills fully.

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UNEMPLOYMENT

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The state of being without a job despite actively seeking employment.

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UNEMPLOYMENT RATE

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The percentage of the labor force that is unemployed and actively seeking work.

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HIDDEN UNEMPLOYMENT

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UNDEREMPLOYMENT

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NATURAL RATE OF UNEMPLOYMENT

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DEMAND -SIDE UNEMPLOYMENT

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SUPPLY-SIDE UNEMPLOYMENT

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LABOR FORCE PARTICIPATION RATE

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WAGE PRICE SPIRAL

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SEASONAL UNEMPLOYMENT

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LONG-TERM UNEMPLOYMENT

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SKILLS GAP

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ECONOMIC BOOM

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RECESSION