Unemployment Flashcard

Front

Who gathers the data for the unemployment rate?

Back

The Bureau of Labor Statistics

Front

Identify what type of unemployment this is: David lost his job at Target to a self-checkout machine.

Back

structural

Front

Identify what type of unemployment this is: Caroline just finished nursing school, has applied for a job at the hospital, and is awaiting a response.

Back

frictional

Front

Identify what type of unemployment this is: A worker at a ski resort who is laid off because spring temperatures warm?

Back

Seasonal

Front

The unemployment rate is the ratio of

Back

seeking employment to civilian labor force

Front

What is considered a healthy unemployment rate (or full employment)? Options: 0%, 1-2%, 4-6%, 10-15%

Back

4-6%

Front

Which of the following is NOT considered part of the civilian labor force? Sam, 55, who is retired after teaching middle school for 30 years. Beth, 26, who just finished her medical degree and is looking for employment. Robert, 18, who lost his job when the economy entered a contraction/recession. Kate, 37, who was let go from her job when her company began to automate the work she was doing.

Back

Sam, 55, who is retired after teaching middle school for 30 years.

Front

In order to be considered part of the civilian labor force, what are the two main requirements?

Back

Be at least 16 years old and actively looking for work.

Front

What is the term for someone who has a part-time job but is overqualified for it and would prefer another job that is full-time and requires their skills?

Back

Underemployed worker

Front

Which type of unemployment was most commonly caused by the COVID-19 pandemic in 2020?

Back

Cyclical