A part-time worker whose livelihood is achieved from irregular, often temporary work. Such work is often seasonal and is performed in several successive locations.
A leading indicator of consumer spending that gauges public confidence about the health of the U.S. economy through a survey of opinions on various economic factors.
Monthly data on national employment and unemployment, wages, and earnings across all non-agriculture industries, providing key economic indicators.
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.
Frictional unemployment is a form of unemployment that occurs naturally within an economy, caused by individuals transitioning between jobs, relocating, and altering their economic activities. It is considered a normal and unavoidable aspect of the labor market.
Frictional unemployment refers to the short-term, transitional phase of unemployment that occurs when individuals are temporarily out of work while moving between jobs, entering or re-entering the labor market.
Full employment is a rate of employment defined by government economists to take into account the percentage of unemployed individuals who would not be employed regardless of the nation's economy. It is currently considered to be at 5.2% unemployment.
Human capital refers to the skills, knowledge, and experience possessed by an individual, viewed in terms of their value to an organization. This concept helps explain variations in wages and employment decisions in the labor market.
Learn about involuntary unemployment, where workers willing to work for lower wages are unable to find employment, often during economic recessions.
Job security refers to the probability that an individual will keep their job; it is the assurance that an employee has about the continuity of gainful employment for their work life.
The Labor Force Participation Rate refers to the portion of the population over the age of 16 that is either employed or actively seeking employment. This metric is a key indicator of the available labor supply and economic activity within a country.
Labor mobility refers to the ability of workers to change employment easily. Highly mobile workers are often found in occupations that are in great demand.
A labor pool refers to a source of trained personnel from which prospective workers are recruited.
Menial work refers to tasks that are typically associated with low skill requirements and often pertain to servant duties or responsibilities. This type of work is often viewed as demeaning or insulting to the person performing it.
An occupation refers to a trade, job, business, or vocation of an individual, serving as the principal means by which one earns a livelihood.
In Marxist theory, the large number of unemployed whose existence assures that wages will be kept at minimum levels.
Seasonal unemployment is a type of unemployment that occurs predictably and regularly based on the calendar year, typically due to changes in weather, holidays, and other seasonal events that affect the demand for labor in certain industries.
Service workers are employees who work in the service sector of the economy, representing a rapidly growing employment category as manufacturing jobs decline in the United States. These workers are often the least represented by unions.
Structural unemployment is a form of unemployment resulting from industrial reorganization, typically due to technological advancements, rather than fluctuations in supply or demand.
Structural Unemployment is a type of unemployment caused by a mismatch between the skills that workers in the economy can offer and the skills demanded by employers.
Individuals who are not employable due to a lack of skills, education, and experience, often resulting in chronic unemployment.
Unemployment is the state of being without paid work, though willing and able to work and actively seeking work. It also refers to the proportion of the labor force that is without paid work.
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.
Describing an individual having no formal skills, training, or education. Unskilled workers are the least employable and most easily replaced through automation.
A wage scale is a structured framework outlining the wage rate for each employee in a department, division, or company, taking into account the type of job, its duties, responsibilities, and the general labor market.
