Fluctuations in the overall rate of national economic activity with alternating periods of expansion and contraction; these vary in duration and degrees of severity; usually measured by real gross domestic product (GDP).

The natural rate of employment; generally considered to be about 93-95 percent of the labor force, allowing for frictional unemployment of 5-7 percent.

The people in a nation who are aged 16 or over and are employed or actively looking for work.

Macroeconomic indicators include Gross Domestic Product (GDP), Gross National Product (GNP), New Durable Goods orders, Retail Sales Indicator, New Home/Construction Sales, and Stock Prices.

Their are varying types and degrees of unemployment. Cyclical unemployment occurs with downturns in the economy and evaporates when the economy rebounds. Frictional unemployment details people who are unemployed while transitioning between jobs. Structural unemployment deals with an offset of skilled workers and available jobs. Seasonal unemployment is another situation in which skilled workers are mismatched with the number of jobs. Hidden unemployment the unemployment of potential workers, which is not reflected in official statistics. Hardcore unemployment describes persons who may be unemployable due to physical or mental incapacitation.

The number of people without jobs who are actively seeking work.

The number of unemployed people, expressed as a percentage of the labor force.