ch 15 - (Number of unemployed/labor force) * 100 =...

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Working age population- total number of people aged 16 years and over who are not in jail, hospital, or some other form of institutional care or in US army Labor force- number of people employed plus the number unemployed Employed- worked 1 or more payed hours or 15 or more unpayed in a family business in the past week Unemployed- actively available for work and have searched for a job in the past 4 weeks Unemployment rate (actual unemployement rate u )- percentage of people in labor force that are unemployed
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Unformatted text preview: (Number of unemployed/labor force) * 100 = unemployment rate Discouraged worker- no longer counted as unemployed because they have stopped actively looking for work Part time for economic reasons- underemployed- people who work 1-34 hours per week, but are looking for full-time work and cannot find it because of unfavourable business conditions Labor force participation rate- (labor force/working age population) * 100 u with a bar over it is equivalent to the average unemployment rate. About 5.9%...
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This note was uploaded on 05/03/2011 for the course SPAN 110 taught by Professor Jones during the Fall '10 term at Saint Louis.

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