What Is Unemployment and How Is It Measured?
All three things must be true (Bureau of Labor Statistics).
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1.Who counts as unemployed in the US?
All three things must be true (Bureau of Labor Statistics).
2.What is the labor force?
It is box one plus box two, the people working or trying to; students, retirees and carers often sit outside.
3.Marge is a full-time student, not looking for a job. Is she unemployed?
Only Leo counts, because only one of them is searching.
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Sources (3)
- U.S. Bureau of Labor Statistics: How the Government Measures Unemployment
- U.S. Bureau of Labor Statistics: Employment Situation, Table A-15 (Alternative measures of labor underutilization)
- Eigene Berechnung (synthetische Rechenbeispiele)
Education only. Not financial advice.