the average price of a market basket of goods used to measure inflation.
representative group of goods and services used to compile the consumer price index
the total supply of goods and services within a country
Total demand for goods and services within a nation
Measures the number of people who are able to work, but do not have a job during a period of time.
Structural unemployment occurs when someone has job skills that no one wants or when a company wants to hire someone but can't find anyone who has the required skills; also occurs when technology replaces a worker's job
Unemployed people don't always take the very first job they can find. They often wait to find a job that fits their talents and preferences. There are considered this form of unemployment while they search for a job that is a good fit.
Most economies encounter periods of growth and recession. These are people who are laid off as a result of a contracting economy. This is the worst type of unemployment.
Some people are unemployed at certain times of the year because of the industry they are in. There is a limited need for some work to be performed year round, such as lawn care.
working at a job for which one is overqualified, or working part-time when full-time work is desired
the level of employment reached when there is no cyclical unemployment