Lecture_Notes_6 - Jobs and Unemployment CHAPTER 6 6.1 LABOR...

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Jobs and Unemployment CHAPTER 6
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6.1 LABOR MARKET INDICATORS Current Population Survey Every month, 1,600 interviewers working on a joint project of the Bureau of Labor Statistics (BLS) and the Bureau of the Census survey 60,000 households to establish the age and job market status of each member of the household. Working-age population: Total number of people aged 16 years and over who are not in a jail, hospital, or some other form of institutional care or in the U.S. Armed Forces.
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6.1 LABOR MARKET INDICATORS The working-age population is divided into those in the labor force and those not in the labor force. Labor force: The number of people employed plus the number unemployed.
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6.1 LABOR MARKET INDICATORS The Number of People Employed : The survey counts as employed all persons who, during the week before the survey: 1. Worked at least 1 hour in a paid job or 15 hours unpaid in family business. 2. Were not working but who had jobs from which they were temporarily absent.
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6.1 LABOR MARKET INDICATORS The Number of People Who are Unemployed The survey counts as unemployed all persons who, during the week before the survey: 1. Had no employment 2. Were available for work, and either: 1. Had made efforts to find employment during the previous four weeks, or 2. Were waiting to be recalled to a job from which
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6.1 LABOR MARKET INDICATORS Figure 6.1 shows population labor force categories. The figure shows the data for May 2005.
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Two Main Labor Market Indicators The unemployment rate The labor force participation rate Unemployment rate:
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This note was uploaded on 06/21/2011 for the course ECON 201 taught by Professor Staff during the Spring '08 term at Northern Virginia Community College.

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Lecture_Notes_6 - Jobs and Unemployment CHAPTER 6 6.1 LABOR...

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