Fill in the Blanks Module 12Online version The Calculation of Unemployment - Fill-in-the-Blank by Zachary Foust 1 looking over jobless sample over working unemployed available sum Census job Bureau United labor looking looking States force People are employed if and only if they have a . The is the federal agency that collects data on unemployment . People are unemployed if they are , for jobs , and available for work . Retired people don't count as unemployed because they aren't for jobs . The disabled don't count as unemployed if they aren't for work . A country's labor force is the of the employed and the unemployed . Another way to define the labor force is the sum of the people who are currently and the people who are currently for work . The labor force participation rate is the share of the working age population that is in the . Labor force participation rate = labor force the population age 16 and older The unemployment rate is the percentage of the total number of people in the labor force who are . Unemployment rate = number of unemployed workers the labor force To estimate the unemployment rate , the United States Census Bureau carries out a monthly survey called the Current Population Survey , which involves interviewing a random of American families . 2 Statistics Bureau overqualified given hours indicator perfect younger like broader U6 searching experienced larger retirement fustrated up Labor demographic of low prime The unemployment rate is a good of how easy or difficult it is to find a job given the current state of the economy . When the unemployment rate is , nearly everyone who wants a job can find one . Although the unemployment rate is a good indicator of current labor market conditions , it is not a measure . An individual who has looking for a job isn't counted as unemployed . Individuals who want to work but aren't currently because they see little prospect of finding a job are known as discouraged workers . Discouraged workers are part of a group known as marginally attached workers . Marginally attached workers are people who say they would to have a job and have looked for work in the recent past but are not currently looking for work . Another category of workers who are in their ability to find work but aren't counted as unemployed are the underemployed . The underemployed are workers who would like to work more or who are for their jobs . The is the federal agency that calculates the official unemployment rate . The Bureau of Labor Statistics also calculates " measures of labor utilization " that include frustrated workers such as marginally attached workers and the underemployed . is the sum of frustrated workers and the unemployed . The unemployment rate varies greatly among groups . Other things equal , jobs are generally easier to find for more workers and for workers during their working years ( ages 25 to 54 ) . For workers and workers nearing age , jobs are typically harder to find . 3 fell rose inverse There is a generally strong relationship between the real GDP growth rate and the unemployment rate . Years of high growth in real GDP are years in which the unemployment rate . Years of negative growth in real GDP are years in which the unemployment rate .
New game