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The economy's self-correcting mechanism tends to push the unemployment rate back to a specific rate of unemployment.How?
Adult Population
The segment of the population that is of working age and eligible for employment, typically considered 18 years and older.
Discouraged Worker
An individual who is not actively looking for employment due to believing that no jobs are available for them.
Cyclical Unemployment
Unemployment that fluctuates with the business cycle, increasing during recessions and decreasing during expansions.
Unsuccessful Job Search
An unsuccessful job search refers to the situation where an individual actively looks for employment but fails to secure a job after a certain period.
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