Glossary

Question 1

Full employment

Answer 1

> When there enough job vacancies for all the unemployed to take work.
There will always be some unemployment in the economy.

Question 2

Mass unemployment

Answer 2

> Mass unemployment exists when officially one person in ten in the labour force is counted as being out of work.
In practice, the true level of unemployment might be significantly higher than this.

Question 3

Economic inactivity

Answer 3

> Those who are of working age but are neither in work nor actively seeking work.

Question 4

Long-term unemployment

Answer 4

> Long term unemployment accounts for people who have been out of work for at least one year.
This is a structural supply-side problem in the labour market.

Question 5

Under-employment

Answer 5

> Workers are under-employed when they are willing to supply more hours of work than their employers are prepared to offer.

Question 6

Hidden unemployment

Answer 6

> Hidden unemployment is also known as disguised unemployment.
The number of people who do not have work but who are not counted in government reports, for example, people who have stopped looking for a job and people who work less than they want to.