black economy

n.
A sizable hidden segment of a country's economy that operates on numerous unreported private cash transactions.

The part of the job market which is not reported, for example, to the tax authorities and does not appear in official statistics. A slang term is ‘moonlighting’, but in many less developed countries the similar term ‘informal economy’ is used.

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The noun has one meaning:

Meaning #1: a hidden sector of the economy where private cash transactions go unreported

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