P1
Bureau of logic statistics (BLS) is one of the basic tools used to measure the level of unemployment and unemployment in an institution. This study entails concrete analysis based on the statistical approach and synthesis of data obtainable from the public. BLS study is mainly targeted at analyzing unemployment in the age group exceeding 15 years. Examples of BLS include the CPS and the CES.
P2
Total population comprises of all the citizens whose age range above 16 years and is entitled for potential work force in a country. Capturing on the unemployment criterion, there are two types of total population. These include the institutionalized and the civilian population. The civilian population is also referred to as Non- Institutionalized.
P3
Institutionalized population comprises of people found in institutions like hospitals, schools, prisons etc and is eligible to work. The main characteristic of this type of population is that they are bound by the institutions from which they fall. Examples include the prisoners as well as students.
P4
Non Institutionalized population comprises of people who are not in hospitals, prisons or any other institutions. In relation to this they have all the freedom of movement in search of employment opportunities. They comprise of individuals that are above 16 years and can provide work force. Examples include the free citizens.
P5
Non institutionalized population is further subdivided into two groups. These groups include those in the labor force and those not in the labor force. Individuals in the labor force include the full time employed as well as the part time employed. Those not in the labor force include the house hold workers, full time students, totally and partially disabled individuals.
P6
Unemployment basically occurs when people are without jobs in any form of institution. Unemployment is only realized if jobs have been sought for at least four weeks. Unemployment rate is the measure of how prevalent people are not employed. This rate is often calculated as a percentage of the total number of the labor force potentials.
Work Cited
Arthur Sheffrin . Economics: Principles in unemployment. Upper Saddle River, New Jersey: Pearson Prentice Hall. Pg 330, 2003
Richard Ashley. “Unemployment effects”: Virginia Tech, Department of Economics publishers, 2007.
