LGS 200 Lecture Notes - Lecture 15: Uric Acid, Unpaid Work, Structural Unemployment

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yellowcattle867

9 May 2017

School

University of Alabama

Department

Legal Studies

Course

LGS 200

Professor

Tripp

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Document Summary

Labor force statistics: produced by bureau of labor statistics (bls) in the u. s department of labor, based on regular survey of 60,000 households, based on (cid:498)adult population(cid:499) (cid:523)16 years or older(cid:524, bls divides population into 3 groups: Employed: paid employees, self-employed, and unpaid workers in a family business, full time and part time workers, and those not working because of a temporary absence from a job (vacation, health, seasonal, maternity leave) Unemployed: people not working who have looked for work during previous 4 weeks, also includes temporary lay off who are waiting to be recalled to a job. You must be actively looking for a job and apply for a certain amount of jobs per week. 100 x # of unemployed labor force: labor force participation rate: % of the adult population that is in the labor force. 100 x labor force adult population: the u-rate is not a perfect indicator of joblessness or the health of the labor market:

Related Questions

1. For April 2015, the Bureau of Labor Statistics (BLS) estimates that the number of employed workers in the US was 148,523,000. The total number of workers who were not employed but were actively seeking work or waiting to be recalled from the layoff was 8,549,000. The total number of workers who were not employed and were neither looking for work nor waiting to be recalled from the layoff was 93,194,000.

a. Calculate the number of workers in the labor force and the adult working population.

b. Calculate the labor force participation rate and the unemployment rate.

c. Figure 2.1 in the lecture slides gives the same data, but for April 2013. Calculate the percentage change in the number of unemployed workers, the percentage change in the number of workers in the labor force, and the percentage change in the adult working population between April 2013 and April 2015.

d. Has the labor market improved between April 2013 and April 2015? Has it clearly improved, or is there a chance that it has not actually improved? Justify your answer. (Hint: Compare the labor force participation rate and the unemployment rate for April 2013 and April 2015).

byzantiumbutterfly960

Here is a report from a not-very-efficient BLS survey taker: "There were 65 people in the houses I visited, 10 of them children under 16 and 10 retired; 25 people had full-time jobs, and 5 had part-time jobs. There ware 5 full-time homemakers, 5 full-time students over age 16, and 2 people who were disabled and cannot work. The remaining people did not have jobs but all said they would like one. One of these people had not looked actively for work for three months, however." Find the labor force, the working-age population, the number of employed workers, and the number of unemployed workers.

cyanyellowjacket357

In calculating the unemployment rate, part-time workers are:

A. Counted as unemployed because they are not working full-time

B. Counted as employed because they are receiving payment for work.

C. Used to determine the size of the labor force, but not the unemployment rate

D. Treated the same as "discouraged" workers who are not actively seeking employment

salmonmole681

LGS 200 Lecture Notes - Lecture 15: Uric Acid, Unpaid Work, Structural Unemployment

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