AP PSYCHOLOGY

Detailed explanation-1: -Recent labor markets developments, including mismatches in the skills of workers and jobs, extended unemployment benefits, and very high rates of long-term joblessness, may be impeding the return to “normal” unemployment rates of around 5%.

Detailed explanation-2: -The unemployment rate is: the percent of the labor force that is unemployed. To be counted as unemployed, one must: be out of work and be actively looking for a job.

Detailed explanation-3: -The Bureau of Labor Statistics’ U-1 measure of joblessness is larger than its U-6 measure of joblessness. Within the U.S. population, teenagers (ages 16-19) have higher rates of unemployment than adults of prime working age (ages 25-54), regardless of race or gender.

Detailed explanation-4: -Workers who have given up actively seeking a job, are not counted in the unemployment rates, freelancers or gig workers who recently lost clients may not be counted as unemployed, and the rate doesn’t specify whether workers are employed on a part-time basis, or a full-time one.