Jim Whitney Economics 101
 
Employment and Unemployment
 
U.S. Population
Civilian noninstutional population 16 years of age and older Other: 
Military
Prisoners
Children
Institutionalized 
Labor force (LF) Not in the labor force (NLF): 
Retirees
Students
Discouraged workers
Workers in the home
Underground economy workers
Out of work by choice 
 xxx
Employed (E): 
During the past week... 
  Worked at least 1 hour for pay
  Worked at least 15 hours without pay in a family business
  Off work due to illness
  On vacation
  On strike
  Unable to work due to bad weather
  Currently taking time off
Unemployed (U): 
  Temporarily laid off
  Between jobs--new job to start within 30 days
  Have actively looked for a job within the past four weeks:
  -registered with an unemployment office   
  -inquired about a job opening
  -applied for a job
  -listed on a union registry
  -checked with friends or relatives
  -met with an employer
 xxx
 
Key formulas:
Labor force participation rate = 100·(# in labor force/Civilian population 16+ years old)
Unemployment rate = 100·(Number unemployed/Number in labor force)