Unformatted text preview: Once the BLS has placed all the individuals covered by the survey in a cate-gory, it computes various statistics to summarize the state of the labor market. The BLS defines the labor force as the sum of the employed and the unemployed: Labor force ± Number employed ² number of unemployed Adult population (205.2 million) Labor force (137.7 million) Employed (131.5 million) Not in labor force (67.5 million) Unemployed (6.2 million) Figure 26-1 T HE B REAKDOWN OF THE P OPULATION IN 1998. The Bureau of Labor Statistics divides the adult population into three categories: employed, unemployed, and not in the labor force. S OURCE: Bureau of Labor Statistics. labor force the total number of workers, including both the employed and the unemployed...
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This note was uploaded on 07/30/2010 for the course ECON 120 taught by Professor Abijian during the Spring '10 term at Mesa CC.
- Spring '10