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Employment Situation in Perspective

250M THE EMPLOYMENT SITUATION mint. IN PERSPECTIVE FORCE OVER THE LAST FIVE YEARS. A LOOK AT AMERICA'S WORK- CIVILIAN NON-INSTITUTIONAL POPULATION: 237.0M 200M NOT IN LABOR FORCE: 83.8M RETIRED PERSONS DISCOURAGED WORKERS DISPLACED WORKERS PERSONS NOT LOOKING FOR A JOB LABOR FORCE: 153.2M UNEMPLOYED PERSONS: 16.OM 150M EMPLOYED PERSONS: 137.2M DEFINITIONS: CIVILIAN NON-INSTITUTIONAL POPULATION: ALL PEOPLE OVER THE AGE OF 16 WHO ARE 100M NOT INSTITUTIONALIZED OR ENLISTED IN THE MILITARY. LABOR FORCE: THE SUM OF ALL EMPLOYED AND UNEM- PLOYED PERSONS. UNEMPLOYED PERSONS: EVERYONE WHO IS NOT WORKING, BUT ARE AVAILABLE AND HAVE ACTIVELY SOUGHT WORK IN THE PRIOR FOUR WEEKS. THIS ALSO INCLUDES PEOPLE WHO HAVE BEEN 50M TEMPORARILY LAID OFF. EMPLOYED PERSONS: INCLUDES PEOPLE WHO DID ANY WORK FOR PROFIT IN THE PAST WEEK. JAN. 2006 JAN. 2007 JAN. 2008 JAN. JAN. 2009 FEB. 2005 2010 AVERAGE DURATION OF UNEMPLOYMENT 2005 <5 WEEKS 5-14 WEEKS 2006 15-26 WEEKS 2007 27+ WEEKS 2008 2009 JAN. 2010 FEB. 2010 5M 10M 15M 20M UNEMPLOYED SOURCE: BUREAU OF LABOR STATISTICS

Employment Situation in Perspective

shared by kcatoto on Mar 26
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By any measure, the unemployment rate is on the rise. But exactly how bad is the problem and what are the implications for the broader economy? To put things in perspective, we need to consider how th...

Publisher

Mint

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Category

Economy
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