Unemployment

1
UnemploymentEmployment

• Chapter 8 Section 3

2
Objectives

• What two major categories make up the
  noninstitutional adult civilian population?
• What two categories make up the civilian labor
  force?
• How do we calculate the unemployment rate?
• How is the employment rate calculated?

3
Indiana Academic Standards for Economics

• Standard 5.2
• Explain how GDP, economic growth, unemployment,
  and inflation are calculated.

4
Conditions of EMPLOYMENT

• 1 hour paid per week
• Worked in your own business or profession
• 15 hours unpaid on family-owned farm or business
• Temporarily ill, vacation, strike, or weather

5
Conditions of UNEMPLOYMENT

• No work for the week actively looked for
  work (4 weeks)
• Waiting for a call-back (Laid-off)
• Waiting to report to a job within 30 days

6
Unemployment Rate
Persons Unemployed
x 100

Persons in the Civilian Labor Force
7
Employment Rate
Persons Employed
x 100

Persons in the Noninstitutional Adult Civilian
Population
8
Institutionalized Under 16 Armed Forces
Total Population
Not in Labor Force
Noninstitutional Adult Civilian Population
Employed
Civilian Labor Force
Unemployed
9
Assessment

• What two major categories make up the
  noninstitutional adult civilian population?
• What two categories make up the civilian labor
  force?
• How do we calculate the unemployment rate?
• How is the employment rate calculated?