Term
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Definition
| Workers who spend time looking or employment. |
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Term
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Definition
| Unemployment due to the time workers spend in job search. |
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Term
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Definition
| Unemployment that results when there are more people seeking jobs in a labor market than there are jobs available at the current wage rate. |
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Term
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Definition
| Wages that employers set above the equilibrium rate as an incentive for better employee performance. |
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Term
| natural rate of employment |
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Definition
| The unemployment rate that arises from the effects of frictional plus structural unemployment. |
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Term
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Definition
| The deviation of the actual rate of employment from the natural rate. |
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