- A period of time in which both the unemployment rate and the rate of inflation are relatively high.
inflation, recession, stagnation
Related Terms and Acronyms
- Depression — Definition,
- A prolonged downturn in the economy and level of business activity.
- Disinflation — Definition,
- A reduction in the inflation rate as a result of either government policy or a decline in economic activity.
- Economic Indicators — Definition,
- Statistics that help determine how the economy is faring. They include the Consumer Price Index, housing starts, and unemployment rates, among others.
- Employment Insurance (EI) — Acronym, Canada,
➥ Formerly known as Unemployment Insurance (UI).
- A Service Canada program where premiums are paid by taxpayers and benefits are provided for the unemployed.
- Inflation — Definition,
- A rise in the average level of prices in the economy.
- Inflation Protection — Definition,
- A protection found in some insurance policies that allows policy limits to increase with inflation.
- Market Conditions — Definition,
- Factors that affect the sales of homes in an area, such as interest rates, the unemployment rate, home appreciation, weather and time of year.
- Recession — Definition,
- A prolonged period (popularly defined as two successive quarters) in which economic activity shrinks.
- Seasonal Unemployment — Definition,
- The loss of jobs due to changes in the climate and other conditions. Forestry, fishing and construction are affected by climate, while retailing is affected by seasons and holidays. For instance, at Christmas, retail employment is higher than in January.
- Unemployment Rate — Definition,
- The percentage of the labour force that is not employed but currently seeking work.