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Test Bank for Economics Chapter 9: Labor 9th Edition by George Borjas
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Test Bank for Economics Chapter 9:Labor 9th Edition by George Borjas
What constitutes he labor force? - ANSThe US government defines the labor force as people 16
years or older who have worked at least 1 hour for pay in the last week, worked 15 hours or
more per week without pay in a family business, or held a job, but didn't work because of
sickness, vacation, a labor dispute, or weather.
How and when is labor force data computed? - ANSMonthly by the Bureau of Labor Statistics
(BLS)
Who determines the (un)employment rates? - ANSBLS
Unemployment - ANSPeople out of work who are actively looking for work
What is the current unemployment rate? - ANS5.1%
Why has the labor force increased since 1950? - ANSThe population has doubled, the economy
has grown, and 61% of all women are in the workplace
What are the four types of occupations? - ANSWhite Collar, Blue Collar, Service, Farm-Related
Occupations
White Collar - ANSTends to be professional, technical, clinical, sales, and managerial positions
Blue Collar - ANSManual labor, machine operations, and craft type jobs.
Service Jobs - ANSIncludes police, firefighters, building service workers, restaurant workers
Farm Related Occupationa - ANSFarmers, farm workers, and operators.
Approximately what percentage of workers were white collar before the 2008 recession? -
ANS60%
What's the fastest growing job category? - ANSService Workers
What occupation category has slowly grown? - ANSBlue Collar
Which job category has declined? By what percent? - ANSFarm Workers; 0.5%
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