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Labor Market & Household Economy terms
Jobs reports, wages, claims, household income, debt and the cost of living.
Cost of living index (COLI) An index comparing the relative cost of a fixed basket of goods and services across different places. Gini coefficient A single number, from 0 to 1, measuring income or wealth inequality within a population. Labor force participation rate (LFPR) The share of the working-age population that is either employed or actively looking for work. Median household income The income level at which half of households earn more and half earn less, in a given year and place. Unemployment rate The share of the labor force that is jobless and actively looking for work, excluding people not seeking employment.