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Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

T
Turnover The number of workers who leave and join the workforce, an industry or a company over a specified period (such as a year). Turnover is usually expressed as a rate.

U
Undergraduate (a) University-level qualifications such as bachelor’s degrees, first professional degrees, and undergraduate diplomas and certificates. (b) A person studying at the undergraduate level.
Unemployment The situation in which a person not currently employed is looking for, and is available for, work.
Unemployment rate The proportion of the labour force that is unemployed and looking for work (expressed as a percentage; e.g., 5 per cent). This rate (sometimes referred to as the “jobless rate”) does not include discouraged workers who are no longer actively seeking work or students who do not currently wish to work.
Union coverage A measure of the extent to which workers in an industry are covered by the terms of the collective agreement negotiated between their labour union and employer. This is different from union membership: some workers who have not joined the union may still be covered by the agreement.

V
Value added The value added to raw products by further processing or manufacturing. Examples of value added: turning raw logs into lumber; turning lumber into doors or pre-fabricated buildings. See Gross Domestic Product (GDP).

W
Wage rates The different amounts paid—whether annual salaries or hourly wages—to employees, depending on their occupation (also referred to as “pay scales”). Wage rates vary based on a range of factors (see Salary), such as general working conditions, the risk associated with doing a job, the training required, the responsibility involved, the hours of work, the type of equipment used on the job, and collective agreements in place between employers and unions.
Wages Fixed, regular payment for work, paid on an hourly, daily or weekly basis by an employer to an employee. See Salary.
Workforce The population 15 years of age and older across Canada who are employed or are unemployed but actively looking for work. Also referred to as “labour force.” See Labour force.
Working-aged population The population between the ages of 15 and 64.
Work–life balance A state in which a person achieves a balance in terms of time, energy and personal satisfaction between paid work and other important areas of life, such as family and recreation.