ECONOMICS
BUSINESS CYCLES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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People in the labor force who are actively looking, but do not have jobs
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People in the labor force who have a part-time job but are looking for a full-time job
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People who do not have jobs and have given up looking for work
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People in the adult population who do not have jobs
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People in the adult population who have temporary jobs
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Detailed explanation-1: -The unemployment rate measures the share of workers in the labor force who do not currently have a job but are actively looking for work. People who have not looked for work in the past four weeks are not included in this measure.
Detailed explanation-2: -The unemployment rate represents the number of unemployed people as a percentage of the labor force (the labor force is the sum of the employed and unemployed). The unemployment rate is calculated as: (Unemployed รท Labor Force) x 100.
Detailed explanation-3: -The unemployment rate measures: the number of people unemployed divided by the number of people employed. unemployed workers as a percentage of the labor force.
Detailed explanation-4: -Persons who are neither employed nor unemployed are not in the labor force. This category includes retired persons, students, those taking care of children or other family members, and others who are neither working nor seeking work.
Detailed explanation-5: -The unemployment rate is defined as the number of unemployed persons divided by the number of persons in the labor force (not the overall adult population). The Current Population Survey (CPS) conducted by the United States Census Bureau measures the percentage of the labor force that is unemployed.