Question

BUSINESS CYCLES, UNEMPLOYMENT, AND INFLATION

IN-CLASS WORKSHEET 1

This question explores the identification of individuals in terms of their labor force and employment status. You will be provided introductions to different individuals and asked to classify them in one of these groups.

Task 1: Jenni is 27 years old. She currently splits her time between cleaning friends’ houses and working part-time at a local record store. Is Jenni in the labor force and/or employed?

Task 2: Jack is 63 years old. He recently retired from his job as a university administrator. Is Jack in the labor force and/or employed?

Task 3: Pedro is 46 years old. He recently lost his job as a police officer. He applied for a new job as a security consultant yesterday. Is Pedro in the labor force and/or employed?

Task 4: Alyssa is 27 years old. She is a full-time graduate student at the University of Iowa and she applied for a part-time job at a local café last week. Is Alyssa in the labor force and/or employed?

Hello, can anyone help me with this problem? thank you

Answer 1

Task 1:

Jenni is the part of labor force and she is employed because she is the part time worker in the store. The labor force calculation also includes part time workers.

Task 2:

Jack is not the part of labor force and he is also not employed as he is now retired from his position.

Task 3:

Pedro is unemployed as he lost his job. But, he is the part of labor force as he is actively seeking a new job.

Task 4:

Alyssa is unemployed, but she is the part of labor force as she is actively seeking a job in the last week (survey reference week).