Chapter 21 - Unemployment and Inflation

labor force participation rate

The ________ rose from 60 % in 1970 to 67.5 % in 1990 and has been largely stable since then.

unemployment rate

The ________ is the most commonly publicized indicator of the country's economic condition.

labor force

The ________ is made up of adult citizens who are either working or searching for jobs.

labor force participation rate

The ________ is thus equal to the ________ divided by the adult population, or 65 percent (154.7 million /237.3 million)

Unemployment rate

percentage of people in the labor force who are out of work

Disgruntled workers

effectively fallen out of the labor field and are therefore not listed as jobless

Discouraged workers

those who drop out of the labor force in frustration because they can’t find work