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2. Determine the labor market classification for each of the following. E.g. employed, cyclically unemployed, out of the labor force, frictionally unemployed, or structurally unemployed. The correct answer to each question below is one of these. A category may be used more than once. Simply saying the person is “unemployed” is always an incorrect answer. You must provide the exact category of labor market status from the list of choices provided above. You may use a category more than once.

a. Homer lost his job last week at the nuclear power plant in Springfield. The plant was closed when taxpayers agreed on a ballot issue to replace it and all nuclear power plants with hydroelectric plants. Homer has special job skills that were unique to nuclear power plants.
Homer’s labor market status is ____________________


b. Bob was run over by a bicyclist yesterday. He must spend 3 days in the hospital and another 2 days at home recovering from his injuries before he can return to work for the U.S. Postal service. What is his labor market status during this 5-day time?
Bob’s labor market status is _____________________________________.

c. Ernie, a formerly unemployed computer analyst, now works 20 hours a week as a part-time employee at Home Depot.
Ernie’s labor market status is _____________________________________.

d. Tom is 50 years old. He resigned from his job as a gravedigger because he was finding it difficult to climb out on his own once the job was complete and was too embarrassed to ask for help even though the union contract with the company indicates that management will provide stepladders. He is currently looking for an above-ground job. He has been interviewing with landscape companies and is very optimistic about his future employment prospects. He continues to fill out job applications.
Tom’s labor market status is _____________________________________.

e. Michael won the largest lottery in US history. His after-tax lump sum lottery winnings were $450 million. He was never happy at his job at the Walmart in Springfield Massachusetts stocking shelves 30 hours a week (two less than the minimum to qualify for any health or retirement benefits) so he simply did not report to his job one day, never told anyone at work, changed his legal name and moved to Florida where he purchased a secluded home on a one of the Florida Keys. The strange thing is no one even called to see if he was OK. They just assigned someone else to his job. He now spends every day reading or walking along the beach. He is also reading travel brochures and soon will move to New Zealand for several months where he plans to play semi-professional rugby.
Michael’s labor market status is _____________________________________.

F. Bill was finally arrested convicted for skimming (i.e. stealing) $5 million from the university where he was employed as a senior administrator even though no one at the university was looking for the money despite knowing it was missing. It took the work of a dedicated IRS agent reviewing university budgets 6 years after this event happened. Fortunately, it was still a few months before the statute of limitation expired. Now Bill lives in “free federal housing” in Connecticut where he is locked into his 7 feet by 9-feet cell or room as he calls it, each night until his 20 years are up.
Bill’s current labor market status is __________________________.

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Ritu Kharb
Ritu KharbLv5
28 Sep 2019

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