Question

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

(1) Sean - Employed (since he is a professional player)

(2) Yvette - Unemployed (since she does not currently hold a job but is looking for job)

(3) Bob - Not in labor force (discouraged workers are excluded from labor force)

(4) Ginny - Unemployed (since she does not currently hold a job but still is looking for job)

(5) Eric - Not in labor force (since he is not looking for job)

(6) Cho - Not in adult population (being below 16)