Disguised unemployment refers to individuals who want full-time employment but do not have it and are not actively seeking work, thus are not reflected in official unemployment statistics. It also pertains to individuals who are on payroll but do not contribute to productivity.
The North American Industry Classification System (NAICS) is a system for classifying business activities developed jointly by the United States, Canada, and Mexico, using six-digit codes. It replaces the U.S. Standard Industrial Classification (SIC) System.
The unemployment rate represents the percentage of the civilian labor force that is actively looking for work but is unable to find jobs. This rate is compiled by the U.S. Department of Labor, in cooperation with labor departments in all states, and is released to the public on the first Friday of every month.
