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  • Economic Geography of Labor

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    Minh Anh Hồ
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    The document discusses key terms related to labor economics including the labor force, employment, unemployment, and factors used to calculate unemployment and labor force participation rates. The labor force includes the employed, whether full-time or part-time, and the unemployed who are able to work and have actively sought work within the past 4 weeks. Those not in the labor force are neither employed nor unemployed. The unemployment rate is calculated as the percentage of the unemployed out of the total labor force. The labor force participation rate is the percentage of the labor force relative to the total adult population.

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    The document discusses key terms related to labor economics including the labor force, employment, unemployment, and factors used to calculate unemployment and labor force participation rates. The labor force includes the employed, whether full-time or part-time, and the unemployed who are able to work and have actively sought work within the past 4 weeks. Those not in the labor force are neither employed nor unemployed. The unemployment rate is calculated as the percentage of the unemployed out of the total labor force. The labor force participation rate is the percentage of the labor force relative to the total adult population.

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    © All Rights Reserved
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    10 views1 page

    Economic Geography of Labor

    Uploaded by

    Minh Anh Hồ
    The document discusses key terms related to labor economics including the labor force, employment, unemployment, and factors used to calculate unemployment and labor force participation rates. The labor force includes the employed, whether full-time or part-time, and the unemployed who are able to work and have actively sought work within the past 4 weeks. Those not in the labor force are neither employed nor unemployed. The unemployment rate is calculated as the percentage of the unemployed out of the total labor force. The labor force participation rate is the percentage of the labor force relative to the total adult population.

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    © All Rights Reserved
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    Economic Geography of labor

    1. Labor force:
    - Employed: both full time and part time
    - Unemployed: people who are able to work but not employed, including who:
    + Have actively sought work in the previous 04 weeks
    + Are available to start work within the next fortnight (2 weeks)
    + Out of work and have accepted a job that they are waiting to start in the next fortnight
    2. Not in the labor force:
    - People who fit neither of 2 above categories
    Unemployed
    Un employment rate= x100%
    Labor force
    Labour force
    Labor force participation rate= x100%
    Adult population
    Adult population: the working age population

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