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Fluctuations in employment and output result from changes in
U-5 Measure
The U-5 Measure is a broader definition of unemployment than the standard, including not only those actively seeking work but also discouraged workers and others marginally attached to the labor force.
Marginally Attached Workers
Individuals who are not in the labor force but want and are available to work, and have looked for a job sometime in the past 12 months but not in the four weeks preceding the survey.
Spells Of Unemployment
Periods of time during which an individual is unemployed but actively seeking work.
Frictional Unemployment
Unemployment that results because it takes time for workers to search for the jobs that best suit their tastes and skills
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