April 5 recitation

April 5 recitation - 5 Labor force Participation Rate a in...

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Chapter 8 1. Recession – 2 consecutive votes of declining RGDP 2. Depression – Prolonged severe recession 3. Other indicators of growth a. Auto sales – Monthly b. New home sales – Monthly c. New factory orders – Monthly d. Stock Market 4. Labor Force – Number of people over the age of 16 who are either: a. Employed b. Unemployed ( Subjective ) b.i. A person who is not currently working b.i.1. Actively seeking employment b.i.2. Waiting to begin a job or return to a job
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Unformatted text preview: 5. Labor force Participation Rate a. # in labor force a.i. Total population over 16. 6. Unemployment rate = # of unemployed/Number in Labor Force • Population over 16 years of age o Not in Labor Force Students Disabled Retirees o Labor Force Employed • Employed people and Self employed Unemployed • New entrants, re-entrants, lost/quit job, laid off...
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