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.

A) I only
B) II only
C) both I and II
D) neither I nor II

The correct answer is:

II only (B)      

Explanation:

According to the U.S. Bureau of Labor Statistics (BLS), an umemployed individual refers to someone who do not have a job, have actively looked for work for the past four weeks, is currently available to work if called upon, and those who have temporarily been laid off a job and is waiting to be called back to that job. (Mr. Y falls into this category).

Not every jobless person is classified as unemployed, for example, people that are not part of the labor force, including those who have not looked for jobs in the past four weeks, those who are retired, those in school, or have a disability that keeps them from working. Also, people that are part of the labor force but are not classified as unemployed includes, those who would like to work, but are not actively looking for work, or those that stay at home to attend to family responsibilities.

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