Wednesday 701












Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed.
PART 9 The Real Economy in the Long Run
Chapter 28 of 36 Unemployment
Section 3 of 21
...
Figure 1 - The breakdown of the population in 2007
The Bureau of Labor Statistics divides the adult population into three categories: employed, unemployed, unemployed and not in the labor force.
…
Measuring unemployment is done by the Bureau of Labor Statistics (BLS), part of the Department of Labor.
Every month the BLS generates data on unemployment and other labor market aspects including employment types, average workweek length, and unemployment duration.
These BLS data are from the Current Population Survey, a regular survey of about 60,000 households.
...
Based on the answers to survey questions the BLS puts each person age 16 and older of each surveyed household into three categories
-1- Employed
This category includes
· those who worked as paid employees, in their own business, as unpaid workers in a family business
· full-time and part-time workers
· those who had jobs but are temporarily absent due to reasons including vacation, illness, bad weather
-2- Unemployed
This category includes
· those not employed and available for work and had tried to find employment during the previous four weeks
· those waiting to be recalled to a job after having been laid off
-3 - Not in the labor force
This category includes those not seeking employment such as retirees, full-time students, and homemakers.
… …
labor force survey
rōdōryoku chōsa
労働力調査
… …
Generate same type graph for 2025 or most recent data. ChatGPT – see attached Figure 1a. Grok comes up with same numbers.

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