ECON 1281 Lecture Notes - Lecture 5: Education Index, Authors Guild, Demand Curve
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15 Nov 2016
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The labor force: those age 16 and over who are either employed or unemployed and seeking work. The bls estimates the number of americans in the labor force in. If you are not employed and not seeking work, you are out of the labor force. In august 2016, the labor force participation rate was 62. 8 percent. It was 69. 2 percent for men, and 56. 8 percent for women. This rate generally increases with age until the mid-40s, and then declines. Due to aging baby boomers and the effects of the recent recession, this rate has fallen; it was 67. 2 percent in january 2001 many people just gave up after recession and never came back. Employed: at work for one or more hours per week. Unemployed: out of work but actively seeking work. Workers may be employed part-time, voluntarily or involuntarily some don"t want to be part-time, but they are still considered employed.
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