Consider a small economy composed of six people Nick Rosa Ti

Consider a small economy composed of six people: Nick, Rosa, Tim, Alyssa, Crystal, and Brian. Each person\'s employment status is described in the following table.

Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person’s status as employed, unemployed, “not in the labor force” (if not in the civilian labor force but still part of the adult population), or “not in the adult population” if not in the civilian adult population.

Solution

Nick is a 71-year-old professor. He teaches only one or two courses a year, but he\'s still pursuing an active research agenda. : Employed

Rosa is a 29-year-old professional basketball player. She finished her last season as a player 3 weeks ago and is currently interviewing for a coaching position. Unemployed

Tim is a 44-year-old accountant who has been out of work for almost a year. He became so discouraged that he gave up on his job search a couple of months ago: Not in the labor force

Crystal is a 31-year-old science teacher who taught at West Valley Middle School last year. Due to budget cuts, she was laid off at the end of the school year. It\'s the summer now, and after a few weeks of vacation with her family, she is looking for a part-time job as a tutor: Unemployed

Brian is a 20-year-old American Studies major at the University of Tennessee. It\'s summer now, and he is working as a lifeguard in Mobile, Alabama: Employed

Alyssa is a 10-year-old student at East Valley Middle School. She babysits her younger brother and does other chores, so her parents give her an allowance of $20 per week: Not in the adult population