Asked by Aditya Venkat on Jun 03, 2024

verifed

Verified

Suppose a person lost a factory job six months ago,spent 3 months in a fruitless search for work,and then stopped looking.In the collection of official statistics,such a person is considered

A) still employed in the factory job.
B) structurally unemployed.
C) cyclically unemployed.
D) frictionally unemployeD.
E) out of the labor force.

Labor Force

The total number of people employed or actively seeking employment in a given economic territory or nation.

Structurally Unemployed

individuals who are unemployed due to structural changes in the economy that make their skills or industries obsolete.

  • Understand the role of discouraged workers in the unemployment statistics.
verifed

Verified Answer

MP
Matthew PerkinsJun 03, 2024
Final Answer :
E
Explanation :
Since the person has stopped looking for work, they are no longer counted as part of the labor force and are therefore classified as out of the labor force.