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Last updated 4:41 PM on 9/22/26
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9 Terms

1
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Labor Force

No. of employed + No. Of unemployed

2
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Unemployment rate

No. Of unemployed/ labor force x 100

3
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Employment rate

No. Of employed / labor force x 100

4
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Labor Force Participation rate

No. Of employed + No. Of unemployed

5
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Real wages

Nominal wage / CPI

6
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Earnings

Wage rate x units of time worked

7
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Total Compensation

Earnings + employee benefits

8
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Income

Total Compensation + unearned income

9
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Demand for labor

f (W, QD , T)