Chapter 15●Measuring Employment, Unemployment, and Labor Force Participation○The 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 Workers○Marginally 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 search■Typically, discouraged workers give up on their search because they feel
