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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

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?

To determine

Whether various categories of persons as given are considered as employed or unemployed is to be determined.

Explanation

A person who is out school and working part-time is counted as employed if he belongs to the working age population (aged 16-59). It is because he is out of school and even if he has a part-time job he would be counted as employed.

A full-time student working 12 hours a week at the college cafeteria is counted as out of labor force. It is because even if he belongs to working age population, he is not a part of labor force because he is a full-time student...

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