Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (if not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population. Person Antonio is a 70-year-old professor. He teaches only one or two courses a year, but he's still pursuing an active research agenda. Caroline is a 31-year-old professional basketball player ..She finished her last season as a player 3 weeks ago and is currently interviewing for a coaching position. Dmitri is a 77-year-old retired professor. He enjoys volunteering the local public library. Latasha is a 29-year-old who lost her job as an associate producer for a radio station. After spending a few weeks out of work and interviewing for several other positions, she gave up on her job search and decided to go back to grad school. She made that decision a few months ago. Jake is a famous novelist. He is spending the summer at his lake house in upstate New York, doing a little writing each day but mostly spending his time gardening and reading. Frances is a 12-year-old student at West Valley Middle School. She babysits her younger sister and does other chores, so her parents give her an allowance of $25 per week. Status Employed Unemployed Not in the labor force Unemployed Employed Not in the adult population Complete the right half of the following equation to reflect the labor force participation rate reported by the BLS. Labor Force Participation Rate
Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (if not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population. Person Antonio is a 70-year-old professor. He teaches only one or two courses a year, but he's still pursuing an active research agenda. Caroline is a 31-year-old professional basketball player ..She finished her last season as a player 3 weeks ago and is currently interviewing for a coaching position. Dmitri is a 77-year-old retired professor. He enjoys volunteering the local public library. Latasha is a 29-year-old who lost her job as an associate producer for a radio station. After spending a few weeks out of work and interviewing for several other positions, she gave up on her job search and decided to go back to grad school. She made that decision a few months ago. Jake is a famous novelist. He is spending the summer at his lake house in upstate New York, doing a little writing each day but mostly spending his time gardening and reading. Frances is a 12-year-old student at West Valley Middle School. She babysits her younger sister and does other chores, so her parents give her an allowance of $25 per week. Status Employed Unemployed Not in the labor force Unemployed Employed Not in the adult population Complete the right half of the following equation to reflect the labor force participation rate reported by the BLS. Labor Force Participation Rate
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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4. Measuring employment, unemployment , and labor force participation
Transcribed Image Text:Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (if
not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population.
Person
Antonio is a 70-year-old professor. He teaches only one or two courses a year, but he's
still pursuing an active research agenda.
Caroline is a 31-year-old professional basketball player
..She finished her last season as a player 3 weeks ago and is currently interviewing for a
coaching position.
Dmitri is a 77-year-old retired professor. He enjoys volunteering the local public library.
Latasha is a 29-year-old who lost her job as an associate producer for a radio station.
After spending a few weeks out of work and interviewing for several other positions, she
gave up on her job search and decided to go back to grad school. She made that decision
a few months ago.
Jake is a famous novelist. He is spending the summer at his lake house in upstate New
York, doing a little writing each day but mostly spending his time gardening and reading.
Frances is a 12-year-old student at West Valley Middle School. She babysits her younger
sister and does other chores, so her parents give her an allowance of $25 per week.
Status
Employed
Unemployed
Not in the labor force
Unemployed
Employed
Not in the adult population
Complete the right half of the following equation to reflect the labor force participation rate reported by the BLS.
Labor Force Participation Rate
Transcribed Image Text:Complete the right half of the following equation to reflect the labor force participation rate reported by the BLS.
Labor Force Participation Rate =
According to this formula, what is the labor force participation rate of this economy of six people?
33.33%
40%
50%
60%
Complete the right half of the following equation to reflect the unemployment rate reported by the BLS.
Unemployment Rate =
According to this formula, what is the unemployment rate of this economy of six people?
33.33%
40%
50%
60%
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