Which of these individuals are in the labor force and which are not?

the CEO of Coca Cola

a college student who isn't workin and isn't looking for a job

a dishwasher at Denny's who wants a better job

a former accountant who now stays at home to watch his children

a person who got laid off from his job last week and has a job interview today

a former executive who now is retired and living in Florida

Solutions

Expert Solution

Not in the labor force

In the labor force

1. A college student who isn’t working and isn’t looking for a job.

2. A former accountant who now stays at home to watch his children.

3. A former executive who now is retired and living in Florida.

1. The CEO of Coca-Cola.

2. A dishwasher at Denny’s who wants a better job.

3. A person who got laid off from his job last week and has a job interview today.

Labor force:

Labor force = Employed + Unemployed

Labor force includes both employed and unemployed.

Not in labor force:

Persons who are neither employed nor unemployed are not in the labor force. This includes retired persons, students, those taking care of children or other family members, and others who are neither working nor seeking work.

Rahul Sunny answered 1 year ago

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