Chapter 15.docx - Chapter 15 Measuring Employment,...

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Chapter 15Measuring Employment, Unemployment, and Labor Force ParticipationThe Bureau of Labor Statistics (BLS) considers a personunemployedif they arein the adult population, didn’t work for pay in the previous week, and has activelylooked for work during the preceding 4 weeks.The BLS considers a personemployedif they are in the adult population,worked for pay in the last week, whether or not they are satisfied with the job.The BLS considers someone to not be in the labor force if they are not activelylooking for employment.When they are not counted in the labor force, they are not counted whencalculating the unemployment rate.The BLS considers someone under the age of 16 to not be in the adultpopulation and therefore not in the labor force.Labor Force Participation Rate= 100 x (Number in Labor Force)/(AdultPopulation)Unemployment Rate =100 x (Number of Unemployed Workers)/(Labor Force)Discouraged WorkersMarginally attached workersincludes jobless people who aren’t in the laborforce but would like to have a job and are available for work.Discouraged workersare marginally attached workers who give a job-market-related reason for giving up on their job searchTypically, discouraged workers give up on their search because they feel

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Term
Spring
Professor
Petry

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