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UNEMPLOYMENT Free Essay, Term Paper and Book Report

The better way to identify “unemployment” starts with making a distinction with the labor force and the whole population of the country. Labor force includes people over age 16 that are either working for pay or actively seeking paid employment. People under 16 years of age, all inmates of institutions and persons on active duty in the Armed Forces are excluded. Only people who are working or spend some time looking for a job are participants in the labor force. People neither working nor looking for work are outside the labor force. Under these circumstances, unemployment is the inability of labor-force participants to find jobs. If a person isn’t actively seeking employment, this person is not counted as unemployed. (Schiller, 2003) The Department of Labor Bureau Of Labor Statistics announces the unemployment rate every month. The current rate is 6.1 percent for the country. Elaine L. Chao, the labor secretary, calls attention to the drop in the current unemployment rate. The unemployment rate had dropped from 6.4 percent in June to 6.1 percent last month. The Bush Admini......

Word Count: 562
Page Count: 2.2  (250 words a page / double spaced)

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