Chapter 21 - Unemployment and Inflation

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labor force participation rate

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7 Terms

1

labor force participation rate

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

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2

unemployment rate

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

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3

labor force

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

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4

labor force participation rate

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

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5

Unemployment rate

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

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6

Disgruntled workers

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

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7

Discouraged workers

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

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