Question

Measuring employment, unemployment, and labor force participation

Consider a small economy composed of six people: Dmitri, Frances, Jake, Latasha, Rosa, and Nick. Each person's employment status is described in the following table.
Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (if not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population.
Person
Dmitri is a 70-year-old professor. He teaches only one or two courses a year, but he's still pursuing an active research agenda.__________
Frances is a 26-year-old recent college graduate. She did not work for pay last week, but she had two job interviews.________
Jake is a 43-year-old accountant who has been out of work for almost a year. He became so discouraged that he gave up on his job search a couple of months ago.__________
Rosa is a 31-year-old science teacher who taught at West Valley Middle School last year. Due to budget cuts, she was laid off at the end of the school year. It's the summer now, and after a few weeks of vacation with her family, she is looking for a part-time job as a tutor.__________
Nick is a 20-year-old American Studies major at the University of Tennessee. It's summer now, and he is working as a lifeguard in Mobile, Alabama._________
Latasha is a 12-year-old student at West Valley Middle School. She babysits her younger sister and does other chores, so her parents give her an allowance of $30 per week._______

Answer 1

Answer and Explanation:

The classification is as follows

a. The Dmirti is considered to be employed as she is working part-time

b.France is considered to be unemployed as currently he hasn't had a job he is still looking for a job

c. Jake is not in the labor force as he is so discouraged and due to which he gave up for job search

d. Rosa is considered to be unemployed as currently she has not have any job and currently she is looking for a job

e. Nick is to be considered as an employed as he is currently working

f. Latasha is to be considered in not in the adult population as she is just 12 year old student