Question

Which of the following people would be considered unemployed by the Bureau of Labor Statistics? I. Mrs. X retires from her job at the age of 55 and does not look for another job. II. Mr. Y was laid off from his job as a welder, but expects to be rehired in 8 months.

Answer 1

Answer:

II. Mr. Y was laid off from his job as a welder, but expects to be rehired in 8 months

Explanation:

Unemployment is defined as the number of people that are willing and able to work who are seeking employment but have not been able to secure a job.

Mrs X is retired and is no longer searching for a job, so she is not considered to be unemployed.

However Mrs Y was laid off and is looking for work, expecting to be rehired in 8 months. She is considered to be unemployed.