ECONOMICS
BUSINESS CYCLES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Employed
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Unemployed
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Not in the Labor Force
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Not Applicable / Not Counted
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Detailed explanation-1: -An employee leaves their current job before finding a new job to replace it. An employee has to move to another location. An employee takes time off to care for a loved one. An employee leaves an unfulfilling position in search of a career change .
Detailed explanation-2: -In other words, it is the percentage of the population that is currently working. The employment-population ratio is calculated as: (Employed ÷ Civilian Noninstitutional Population) x 100.
Detailed explanation-3: -An example of cyclical unemployment is when construction workers were laid off during the Great Recession following the financial crisis of 2008.
Detailed explanation-4: -In economics, a discouraged worker is a person of legal employment age who is not actively seeking employment or who has not found employment after long-term unemployment, but who would prefer to be working. This is usually because an individual has given up looking, hence the term “discouraged".