An article in the Wall Street Journal contained the following observation: "Every month, millions of workers leave the job market because of retirement, to care for children or aging parents, to pursue more education, or out of discouragement. Millions of others jump in after graduating." Source: Josh Zumbrun, "Labor-Market Dropouts Stay on the Sidelines," Wall Street Journal , December 28, 2014. The millions of workers leaving the job market for the reasons given are

A. not counted as unemployed in the BLS data because they are still of working age

B. not counted as unemployed in the BLS data because they are no longer actively looking for work.

C. counted as unemployed in the BLS data because of lags in the data

D. counted as unemployed in the BLS data because they may return to work.

Question

Business

Campbell Davidson

28 August, 07:50

An article in the Wall Street Journal contained the following observation: "Every month, millions of workers leave the job market because of retirement, to care for children or aging parents, to pursue more education, or out of discouragement. Millions of others jump in after graduating." Source: Josh Zumbrun, "Labor-Market Dropouts Stay on the Sidelines," Wall Street Journal , December 28, 2014. The millions of workers leaving the job market for the reasons given are

A. not counted as unemployed in the BLS data because they are still of working age

B. not counted as unemployed in the BLS data because they are no longer actively looking for work.

C. counted as unemployed in the BLS data because of lags in the data

D. counted as unemployed in the BLS data because they may return to work.

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Answers (1)

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Bianca · Answer 1

B. not counted as unemployed in the BLS data because they are no longer actively looking for work.

Explanation:

The bureau of labor statistics (BLS) releases monthly statistics on the employment status in the country. The BLS releases the unemployment rate, which is a measure of the jobless workforce expressed as a percentage. The rate changes depending on the economic conditions in the country.

In calculating the unemployment rate, the BLS considers unemployed people as those who are available and willing to work. The individuals must have actively sort employment in the past month. Therefore, Jobless people who are not actively seeking employment, or those engaged elsewhere are not considered in the BLS statistics.