This preview shows page 1. Sign up to view the full content.
Unformatted text preview: Unemployment Rate The unemployment rate measures the percentage of the total civilian labor force that are currently unemployed. The formula for the unemployment rate is given by The civilian labor force consists of all civilians (non-military personnel), 16 years of age or older, who are willing to work and are not incarcerated. The number of people unemployed is determined according to certain criteria. In the U.S., an unemployed person is a member of the civilian labor force who is currently available for work and who has worked less than one hour per week for pay or profit. Furthermore, an unemployed worker must have been actively searching for work during the past month. Workers who are not actively searching for work, referred to as discouraged workers , are not considered a part of the civilian labor force and therefore are not counted among the...
View Full Document
This note was uploaded on 11/18/2011 for the course ECO 1310 taught by Professor Staff during the Fall '10 term at Texas State.
- Fall '10