6.5 Unemployment

When the job skills of a worker are no longer in demand in the labor market

• Cyclical unemployment

• Frictional unemployment

• Structural unemployment

• Seasonal unemployment

Employed in positions that do not fully use their skills

• Underemployed

• Overqualified

• Unemployed

• Underqualified

People who are not officially in poverty but struggle to stay above the line.

• Working poor

• Middle class

• Upper class

• Unemployed

Occurs because of a recession

• Cyclical unemployment

• Structural unemployment

• Frictional unemployment

• Seasonal unemployment

Want to work but have given up looking for jobs

• Unemployed workers

• Discouraged workers

• Underemployed workers

• Job seekers

People are actively seeking employment but have not yet found the jobs they are seeking

• Frictional unemployment

• Cyclical unemployment

• Structural unemployment

• Seasonal unemployment

Having insufficient wealth to meet one's needs

• Wealth

• Affluence

• Poverty

• Prosperity

People not working who have looked for work during the previous 4 weeks

• Unemployed

• Underemployed

• Employed

• Retired

Unemployment that happens as a result of harvest schedules, vacations, or seasonal slowdowns

• Cyclical unemployment

• Structural unemployment

• Seasonal unemployment

• Frictional unemployment