Ch6.1 - CHAPTER SIX The Labor Market 1 Chapter Six 1. Labor...

Info iconThis preview shows pages 1–8. Sign up to view the full content.

View Full Document Right Arrow Icon
CHAPTER SIX The Labor Market 1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Chapter Six 1. Labor Market Statistics abo a et Stat st cs 2
Background image of page 2
.1 A VIEW F BOR RKET 1.1 A R EVIEW OF L ABOR M ARKET S TATISTICS | The civilian labor force is the sum of those either working or looking for work. | Those who are neither working nor looking for work are out of the labor force. | The participation rate is the ratio of the labor rce to the oninstitutional ivilian population force to the noninstitutional civilian population. | The unemployment rate is the ratio of the nemployed to the labor force unemployed to the labor force. 3
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
N OTES : NONINSTITUTIONAL CIVILIAN POPULATION | The noninstitutional civilian population are the number of people potentially available for civilian employment. Included are persons 16 years of age and older residing in the 50 States and the District of Columbia who are not inmates of institutions (for example, penal and mental facilities, homes for the aged), and who are not on active duty in the Armed Forces. 4
Background image of page 4
A R EVIEW OF L ABOR M ARKET S TATISTICS | Labor force = unemployed + employed | Participation rate = (labor force)/(noninstitutional civilian population) | Unemployment rate = unemployed/labor force 5
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
A R EVIEW OF L ABOR M ARKET S TATISTICS Figure 6 - 1 Population, Labor Force, Employment, and Unemployment in the United States (in millions), 2003 6
Background image of page 6
EVIEW OF L ABOR M ARKET S TATISTICS | An unemployment rate may reflect two very different realities. y An active labor market, with many separations and many hires, or y A sclerotic, with few separations, few hires, and a stagnant unemployment pool. 7
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 8
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/19/2011 for the course ECON 1021 taught by Professor Kokwanwai during the Fall '08 term at CUHK.

Page1 / 26

Ch6.1 - CHAPTER SIX The Labor Market 1 Chapter Six 1. Labor...

This preview shows document pages 1 - 8. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online