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Chapter 21: Q 15. (page 524)

What criteria do the BLS use to count someone as

employed? As unemployed?

Short Answer

Expert verified

There are different criteria for the employed person and unemployed person.

Step by step solution

01

Step 1. Definition

The BLS (bureau of labor statistics) is a US federal agency that gathers and disperse different data about the US economy and labor force. In their report CPI and PPI, both are reported.

02

Step 2. Explanation

As stated in BLS, a person who is even doing a part-time job or engaged in some sort of work for which he/she is getting paid is employed.

And a person who is looking and willing to do a job and constantly looking for it but not able to get it is unemployed.

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Most popular questions from this chapter

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

Why do you think that unemployment rates are lower for individuals with more education?

Would you expect the natural rate of unemployment to remain the same within one country over the long run of several decades?

Is the increase in labor force participation rates among women better thought of as causing an increase in cyclical unemployment or an increase in the natural rate of unemployment? Why?

While unemployment is highly negatively correlated with the level of economic activity, in the real world it responds with a lag. In other words, firms do not immediately lay off workers in response to a sales decline. They wait a while before responding. Similarly, firms do not immediately hire workers when sales pick up. What do you think accounts for the lag in response time?
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