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Frictional Unemployment
A type of unemployment that occurs when workers are between jobs, either because they are searching for new positions or are transitioning from one job to another.
Full Employment
A condition where every available work resource is employed in the most financially efficient method.
Labor Force Entrants
Individuals who are entering the workforce for the first time or after an absence, contributing to the available labor supply.
Real GDP
Gross Domestic Product adjusted for inflation, which accurately reflects the value of goods and services produced by an economy.
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