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ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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
Transcribed Image Text:Fill in the blanks using the number that corresponds to the correct word or phrase in the word bank below:
1. percentage
2. unemployed
3. not in labor force
4. Census bureau
6. Current Population Survey
5. Total adult
7. BLS
8. lower
9. recession
10.4 weeks
11. higher
12. African American
13. Establishment Payroll Survey
14. unemployed
15. labor force
The U.S. unemployment rate, which is based on a monthly survey carried out by the U.S. Bureau of the Census, asks a
series of questions to divide up the adult population into employed, unemployed, or 3
To be
classified as unemployed, a person must have actively looked for work in the previous 10
weeks
before the survey. A person who does not have a job but has not actively looked for work in the last four weeks is
. Labor force is comprised of 2
counted as not in the 3
plus
employed.
Labor force participation rate is the
of adults in an economy who are either employed or
who are unemployed and looking for a job. The rate is calculated by taking the number of people in the labor force, that
is, divided by the
population and multiplying by 100.
The
measures the percentage of the labor force that is unemployed. The
measures the net change in jobs created for the month. The CPS is conducted by the
while the EPs is conducted by
The
have the highest unemployment rate among racial and ethnic groups. Unemployment is
for less educated than more educated;
for middle-aged than
the younger age group. The U.S. unemployment rate rises during periods of
but falls back to
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