The labour market slack is the sum of
- unemployed persons,
- underemployed part-time workers,
- persons seeking work but not immediately available to work, and
- persons available to work but not seeking a job.
The labour market slack is expressed as a percentage of the extended labour force. The extended labour force is the total number of
- all employed plus unemployed persons (the labour force),
- plus those seeking work but not immediately available to work,
- plus those available to work but not seeking a job.
Further information
- Labour market slack - employment supply and demand mismatch
- EU labour force survey
- LFS main indicators