5 Questions
What is the unemployment rate?
The number of unemployed people divided by the labour force times 100
Which term refers to those who are technically unemployed but are not included in the official unemployment measurement?
Hidden Employment
What are some personal costs associated with unemployment?
Stress, low self-esteem, poverty
Which economic cost is associated with unemployment?
Loss of GDP
What is underemployment in an economy?
The underutilization of labor resources which limits productivity
Learn about key terms related to unemployment such as unemployment rate, claimant count, full employment, and underemployment. Enhance your knowledge on the forces of supply and demand in the labor market.
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