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Economics Chapter 13 Vocabulary Section 1 Economic Challenges

AB
frictional unemploymentunemployment that occurs when people take time to find a job
seasonal unemploymentunemployment that occurs as a result of harvest schedules or vacations, or when industries close down for a season
structural unemploymentunemployment that occurs when workers' skills do not match the jobs that are available
cyclical unemploymentunemployment that rises during economic downturns and falls when the economy improves
censusan official count of the population
unemployment ratethe percentage of the nation's labor force that is unemployed
full employmentthe level of employment reached when there is no cyclical unemployment
underemployedworking at a job for which one is overqualified, or working part-time when full-time work is desired
discouraged workera person who wants a job but has given up looking


MI

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