ECON 200 Chapter Notes - Chapter full: Unpaid Work, Aggregate Demand, Longrun

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ECON 200 Full Course Notes
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ECON 200 Full Course Notes
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U. s. population includes both legal and illegal immigration. Total resident population of the us is 300,000,000 individuals. The labor force is the total number of people in an economy, society, or country willing and able to exert mental and/or physical efforts in productive activities. The civilian labor force is the total number of employed and unemployed persons, seasonally adjusted. In 2005, illegal immigrants accounted for 5% of the civilian labor force. The labor force participation rate is the proportion of the total non institutionalized civilian population 16 years and over who are in the labor force. Some reasons for dropping out of the labor force include: believe no work is available in their line of work, couldn"t nd any work related to their eld and quit looking for work. These workers who drop out of the labor force are called discouraged workers. However, discouraged workers aren"t the only ones who cause the labor force participation rate to change.

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