Question

An article in the Wall Street Journal contained the following​ observation: "Every​ month, millions of workers leave the job market because of​ retirement, to care for children or aging​ parents, to pursue more​ education, or out of discouragement. Millions of others jump in after​ graduating." ​Source: Josh​ Zumbrun, "Labor-Market Dropouts Stay on the​ Sidelines," Wall Street Journal​, December​ 28, 2014. The millions of workers leaving the job market for the reasons given are

A. not counted as unemployed in the BLS data because they are still of working age
B. not counted as unemployed in the BLS data because they are no longer actively looking for work.
C. counted as unemployed in the BLS data because of lags in the data
D. counted as unemployed in the BLS data because they may return to work.

Answer 1

B. not counted as unemployed in the BLS data because they are no longer actively looking for work.

Step-by-step explanation:

The bureau of labor statistics (BLS) releases monthly statistics on the employment status in the country. The BLS releases the unemployment rate, which is a measure of the jobless workforce expressed as a percentage. The rate changes depending on the economic conditions in the country.

In calculating the unemployment rate, the BLS considers unemployed people as those who are available and willing to work. The individuals must have actively sort employment in the past month. Therefore, Jobless people who are not actively seeking employment, or those engaged elsewhere are not considered in the BLS statistics.