jobs and wages

jobs and wages - Jobs and Wages The United States Census...

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Jobs and Wages The United States Census Bureau divides the working age population ( Those people, 16 years old and older who are not in jail, hospital, or other institution) into categories. Employed: people working at full time job or a part-time job. Unemployed – people who are (1) without a job but have made efforts to find one within the past four weeks (2) waiting to be called back to work from a lay off, (3) waiting to start a new job in the next 30 days. Not in the labor force : People who are not employed and are not looking for work. The labor force equals the sum of the employed plus the unemployed. Discouraged workers are people who have stopped looking for work. Discouraged workers are not in the labor force. Unemployment rate is the percentage of the labor force that is unemployed. The unemployment rate equals: the number of people unemployed divided by the labor force multiply by 100. From 1961 to 2006 the average unemployment rate in the United States had been 6%. The unemployment rate rises during recession and falls during expansion. During recession some discouraged workers don’t look for jobs. Employment to population ratio is the percentage of working age population who has jobs. In the US it averages at 63%. Real Wage
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This note was uploaded on 01/19/2012 for the course ECON 2100 taught by Professor Goodwin during the Fall '07 term at Kennesaw.

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jobs and wages - Jobs and Wages The United States Census...

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