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Natural Rate of Unemployment
The level of unemployment expected in an economy when it is operating at full capacity, not influenced by short-term economic fluctuations.
Labor Underutilization
A situation where workers' skills, time, or abilities are not fully utilized in their current employment situation.
Labor Underutilization
A broader measure of unemployment that includes people who are not actively looking for work, but who would work if a job was available, and part-time workers who would prefer full-time positions.
Labor-Force Participation Rate
The rate of the labor force participants who are of working age, encompassing those in employment and those actively searching for a job.
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