Jobs, Jobs, Jobs!
The unemployment that is always present in the economy, resulting from temporary transitions made by workers and employers or from workers and employers having inconsistent or incomplete information
What is frictional unemployment?
It is a sustained increase in the general level of prices for goods and services.
What is inflation?
It is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period.
What is GDP (gross domestic product)?
The current rate in the US is approximately 2.7%.
What is the US inflation?
It would include:
increases in job creation
new businesses
increases in personal incomes
What is an expansion?
This occurs when there is limited need for a specific type of work to be performed during certain times of the year.
What is seasonal unemployment?
It is a general decline in prices, often caused by a reduction in the supply of money or credit.
What is deflation?
This is the total value of all goods and services purchased by households. It includes spending on durable goods (such as cars and appliances), nondurable goods (such as food and clothing), and services (such as healthcare and education).
What is "Consumption"?
In 2023, this increased to about 27.36 trillion U.S. dollars, marking a rebound from the impact of the coronavirus pandemic
What is the US GDP?
It would include:
increases in unemployment
period of disinflation
failing businesses
What is a contraction (or recession)?
It is the result of businesses not having enough demand for labor to employ all those who are looking for work.
What is cyclical unemployment?
It is used to describe instances when the inflation rate has reduced marginally (falls) over a period of time.
What is disinflation?
A central banks strategies include revising interest rates to control a nation's overall money supply and achieve economic growth.
What is monetary Policy?
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What is the US National Debt?
It would include:
accelerating inflation
high interest rates
lowest levels of unemployment
What is a Peak?
It is someone who is eligible and able but not actively seeking work because they found no suitable options or failed to secure a job.
Who is the discouraged worker?
It is characterized by a period of high inflation coupled with high levels of unemployment.
What is stagflation?
This includes business purchases of equipment and structures, residential construction, and changes in business inventories.
What is investment?
It currently stands a 4.1%, down from 4.2% a month ago and down from a Covid high of 14.9%?
What is the US unemployment rate>
It would include:
high level of unemployment
very low interest rates
businesses begin to borrow and take risk
What is a trough?
It is the unemployment rate that includes people without jobs who have given up looking for work, people without jobs who would like to work but have not sought employment recently, and part-time workers who would like to be employed full-time
What is the U-6 (or real unemployment rate)?
This is the change in the costs of goods and services, but it does not include those from the food and energy sectors.
What is core inflation?
This refers to the use of government spending and taxation to influence a country's economic conditions
What is fiscal policy?
At roughly 62.5%, it is an estimate of the US economy’s active workforce. It is calculated by dividing the number of people ages 16 and older who are employed or actively seeking employment by the total non-institutionalized, civilian working-age population
What is the labor force participation rate?
It is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community. It is best known for establishing start and end dates for recessions in the United States.
What is the NBER (or the National Bureau of Economic Research)?