Question

Homework (Ch 28) Consider a small economy composed of six people: Sean, Yvette, Bob, Cho, Ginny, and Eric. 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 Status Person Sean is a 25-year-old professional tennis player. When he's not competing, he works as a coach at a local tennis club. Yvette is a 35-year-old professional basketball player . She finished her last season as a player 3 weeks ago and is currently Interviewing for a coaching position. Bob is a 44-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 Ginny is a 26-year-old who lost her job as a copy editor for a local newspaper. She has spent the past few weeks out of work and interviewing for other editing jobs. She is thinking about going back to grad school if her job search doesn't succeed after a few more weeks. Eric is a 17-year-old who just graduated from high school. He is taking it easy this summer, relaxing by the pool with his friends and family, and volunteering part-time at the local nursing home. Cho is a 13-year-old student at East Valley Middle School. She babysits her younger brother and does other chores, so her parents give her an allowance of $25 per week.

Answer 1

Sean: Employed (since he is working full time)

Yvette: Unemployed (as she is looking for job for more than 2 weeks)

Bob: Not in labor force (as he has stopped looking for work)

Ginny: Unemployed (as she is still pursuing her job search)

Eric: Not in labor force (as he is not looking for a job)

Cho: Not in adult population (since he is less than 16 years of age)