The flashcards below were created by user
Anonymous
on FreezingBlue Flashcards.
-
Unemployment
Currently without employment, actively seeking employment, and available for employment
-
Recession
Significant decline in economic activity lasting at least 6 months
-
Causes of Unemployment
1. Lack of available jobs 2. Job Exportation: relocation of jobs to other countries where products can be produced more cheaply 3. Outsourcing: when businesses subcontract to third parties who supply business services 4. Automation: company using machines instead of people 5. Mass Layoffs: closings and downsizes 6. Increased global and domestic competition
-
Underemployment
Involuntary part-time, discouraged worker, or a high skilled worker in a low skilled job
-
Long Term Unemployment Rate
People out of work for 27 weeks or more
-
Unpaid Work - Second Shift
Household work or childcare, work parents do when they return home from their jobs
|
|