Market Trends	Labor and Wages	The Paterson Silk Strike of 1913	Organized Labor	Labor Unions

MARKET TRENDS

Economists define the labor force as all nonmilitary people who are employed or unemployed

Employment

Economist consider a people to be employed if they are 16 years or older and meet at least on of the following requirements: They worked at least on hour for pay within the past week; they worked 15 or more hours without pay in a family business, such as a farm; they held jobs but did not work due to illnesses, vacations, labor disputes, or bad weather

Unemployment

People who do not meet these criteria are counted as unemployed if they are either temporarily without work or are no working but have looked for a job within the last 4 weeks. The Labor Force is made up people with jobs and those who are looking for jobs.

Occupational Trends

Shifts in the job market reflect major shifts in what our economy produces.

 

12.3 Students analyze the influence of the federal government on the American economy.

12.4 Students analyze the elements of the U.S. labor market in a global setting.

12.5 Students analyze the aggregate economic behavior of the U.S. economy.