Unemployment
| Definition of 'Unemployment'Unemployment occurs when a person who is actively searching for employment is unable to find work. Unemployment is often used as a measure of the health of the economy. | The most frequently cited measure of unemployment is the unemployment rate. This is the number of unemployed persons divided by the number of people in the labor force.
Reasons for Unemployment
People can be unemployed for a variety of reasons. The Bureau of Labor Statistics (BLS) notes five prime reasons for being unemployed: (1) job losers, (2) job leavers, (3) those who have completed temporary jobs, (4) re-entrants, and (5) new entrants.
It might seem as though a person is unemployed for one obvious reason--the lack of employment. The Bureau of Labor Statistics (BLS), however, tracks five different reasons for unemployment.
Five Reasons
The five key reasons for unemployment are: (1) job losers, (2) job leavers, (3) those of have completed temporary jobs, (4) re-entrants, and (5) new entrants. * Job Losers: A job loser is an unemployed person who has been involuntarily terminated or laid off from a job. More specifically, a job loser is: * A person who has been permanently terminated from a job and is actively seeking employment.
* A person who has been temporarily laid off from a job and is not actively seeking employment due to expectations being called back to work within six months.
* Job Leavers: A job leaver is a person who has voluntarily quit one job and is actively seeking employment elsewhere.
* Completed Temporary Job: An unemployed person can also be one who has recently completed a temporary job and is actively seeking employment elsewhere.
* Re-entrants: A re-entrant is a person who had previously been classified as an employed person, but has been out of the labor force for a period of time before actively seeking employment once again.
* New Entrants: A new entrant is a person who has never
Reasons for Unemployment
People can be unemployed for a variety of reasons. The Bureau of Labor Statistics (BLS) notes five prime reasons for being unemployed: (1) job losers, (2) job leavers, (3) those who have completed temporary jobs, (4) re-entrants, and (5) new entrants.
It might seem as though a person is unemployed for one obvious reason--the lack of employment. The Bureau of Labor Statistics (BLS), however, tracks five different reasons for unemployment.
Five Reasons
The five key reasons for unemployment are: (1) job losers, (2) job leavers, (3) those of have completed temporary jobs, (4) re-entrants, and (5) new entrants. * Job Losers: A job loser is an unemployed person who has been involuntarily terminated or laid off from a job. More specifically, a job loser is: * A person who has been permanently terminated from a job and is actively seeking employment.
* A person who has been temporarily laid off from a job and is not actively seeking employment due to expectations being called back to work within six months.
* Job Leavers: A job leaver is a person who has voluntarily quit one job and is actively seeking employment elsewhere.
* Completed Temporary Job: An unemployed person can also be one who has recently completed a temporary job and is actively seeking employment elsewhere.
* Re-entrants: A re-entrant is a person who had previously been classified as an employed person, but has been out of the labor force for a period of time before actively seeking employment once again.
* New Entrants: A new entrant is a person who has never