In the Lake of the Ozarks, 12,000 people have a paying job, 2,000 do not have a job but have actively looked for a job in the previous week, and 6,000 of the working-age adults are not in the labour force. The labour force participation rate is  ______ percent.

What is an aggregate production function?

What term describes the remaining level of unemployment that occurs even when the economy is healthy?

Assess whether the following would be counted as unemployed in the Current Employment Statistics survey. A husband willingly stays home with children while his wife works. A manufacturing worker whose factory just closed down. A college student doing an unpaid summer internship. A retiree. Someone who has been out of work for two years but keeps looking for a job. Someone who has been out of work for two months but isnt looking for a job. Someone who hates her present job and is actively looking for another one. Someone who decides to take a part time job because she could not find a full time position.

If you an? out of school but working part time, are you considered employed or unemployed in U.S. labor statistics? If you are a full time student and working 12 hours a week at the college cafeteria are you considered employed or not in the labor force? If you are a senior citizen who is collecting social security and a pension and working as a greater at Wal-Mart are you considered employed or not in the labor force?

How do you calculate the unemployment rate? How do you calculate the labor force participation rate?

Many college students graduate from college before they have found a job. When graduates begin to look for a job, they are counted as what category of unemployed?