ECONOMICS
GDP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Y-she doesn’t have a job
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N-she’s not unemployed
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N-she’s no longer in the labor force
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None of the above
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Detailed explanation-1: -Who is in the Labor Force? Persons “in the labor force” are those in the civilian noninstitutional population, age sixteen years or older, who are employed or who are unemployed and seeking employment.
Detailed explanation-2: -Who is not in the labor force? The labor force is made up of the employed and the unemployed. The remainder-those who have no job and are not looking for one-are counted as not in the labor force. Many who are not in the labor force are going to school or are retired.
Detailed explanation-3: -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-4: -Unemployed – includes people who are not in a paid job, but who are actively looking for work. Not in the labour force – includes people not in a paid job, and who are not looking for work.