The number of people aged 16 years and older who are not in jail, hospital, or some other institution

is the sum of employed and unemployed workers.

is ( Number of people unemployed ÷ labor force) x 100.

is the percentage of the working-age population who have jobs.

In June 2014, the labor force was 156 million and the working-age population was 248 million.

is a person who currently is neither working nor looking for work but has indicated that he or she wants and is available for a job and has looked for work sometime in the recent past.

Person who has stopped looking for a job because of repeated failure to find one.

is unemployment created by changes in technology and foreign competition that change the skills needed to perform jobs or the locations of jobs.

is unemployment that arises from normal labor market turnover.

A worker who is laid off because the economy is in a recession and is then rehired when the expansion begins experiences

the unemployment that arises from frictions and structural change when there is no cyclical unemployment.

the situation in which the unemployment rate equals the natural unemployment rate.

Labor force includes employed only

Natural unemployment is all frictional and structural And cyclical unemployment

The natural unemployment rate not changes over time and is not influenced

Potential GDP is the quantity of real GDP produced at full employment

The difference between the level of real GDP and potential GDP is known as the output gap

When the output gap is negative the unemployment rate exceeds the natural unemployment rate.

A person must be willing and able to work, and be actively seeking work in the past 4 weeks.