ECON1132 Chapter Notes - Chapter 9: Gdp Deflator, Longrun, Real Interest Rate
3 Apr 2016
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9. 1- measuring the employment rate, the labor force paricipaion rate, and the employment- Follows the business cycle unemployment rises with recession and vice versa. The household survey: data collected by the us bureau of the census, formally known as the. Current populaion survey interviews 60,000 adults as a representaive populaion about the employment status of everyone in the household 16 years or older. Employed if: you worked during the week before the survey (includes if you were sick, on vacaion, on strike, etc. ) Unemployed if: you did not work within the past week and were available to work, and if you have been acively looking for work at some pint in the past four weeks. Labor force: sum of the employed and the unemployed (a measure of everyone capable of working) Unemployment rate: percentage of unemployed out of the labor force ( unemployed labor force.
