lectur2-page24

lectur2-page24 - In August 2000 the civilian...

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Persons under 16 years of age are automatically excluded from the official labor force measurements, as are all inmates of institutions and persons on active duty in the Armed forces. All other members of the civilian, non-institutional population are eligible for inclusion in the labor force, and those 16 and over who have a job or are actively looking for one are so classified. All others--those who have no job and are not looking for one--are counted as "not in the labor force.” Many who do not participate in the labor force are going to school or are retired. Family responsibilities keep others out of the labor force Still others have a physical or responsibilities keep others out of the labor force. Still others have a physical or mental disability which prevents them from participating in labor force activities.
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Unformatted text preview: In August, 2000, the civilian non-institutionalized population was 209.935 million. The civilian labor force consisted of 140.912 million people. The civilian labor force consists of the civilian, non-institutional population that are either working or are actively looking for work This means 69 193 million persons were not . This means 69.193 million persons were not considered in the civilian labor force. Of the 140.742 million in the labor force, 134.912 million were employed, 5.829 million were unemployed (no job, but wanted one and were actively looking for one). This information provides the means to calculate the unemployment rate: (5.829 million / 140.742 million) * 100 = 4.14% 24...
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This note was uploaded on 12/29/2011 for the course ECO 210 taught by Professor Malls during the Fall '10 term at SUNY Stony Brook.

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