Flashcards in Week 5- Unemployment problem set Deck (16):
In 2009, Economists at Congressional Budget Office estimated that___
5% of US labor force was unemployed.
Report on unemployment rate should be viewed as:
useful but imperfect measure of joblessness.
Frictional unemployment changes
in composition of demand among industries and regions.
Frictional unemployment results from___
Experience short spell of unemployment.
Frictional unemployment takes time for workers to___
search for jobs that best suit their tastes and skills.
results due to number of jobs available in some labor markets may be insufficient to give a job to everyone who needs one.
Labor force participation rate measures___
total adult population that in the labor force.
National Labor Relations Board enforces____
worker’s right to unionize.
When minimum-wage law forces wage to stay above supply and demand. It raises___
quantity of labor supplied; reduces quantity of labor demand.
Unemployment reported by BLS are reported based on ____
month survey of 60k households.
BLS produces data on unemployment___
People working part-time are counted as___
employed by the BLS.
# of people employed + # of people unemployed.
Labor force participation rate equals:
(Labor force / Adult Population) x 100