00:03
Once again, welcome to new problem.
00:07
And this time we're dealing with economics.
00:10
So there are two types of economics.
00:12
Of course, there are more.
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There's microeconomics.
00:16
And then there's macroeconomics.
00:19
And in economics, we have resources.
00:22
And some of the resources that you get to see include land, labor, capital.
00:30
And of course, entrepreneurship.
00:34
Entrepreneurship.
00:36
But labor plays a huge role because it's connected to an issue that you get to see in macroeconomics called employment versus unemployment.
00:53
Employment versus unemployment.
00:56
So these numbers happen to be a big deal because the employment drives other sectors of the economy.
01:04
For example, employment drives taxation.
01:08
They hire the employment level or the lower the unemployment level.
01:14
They hire the taxes collected.
01:15
And this is good for the government in planning macroeconomic policies that are beneficial to the overall economy.
01:28
So in this particular problem, we have a problem in in economics where we say how are the unemployed, or rather how are the employed, or rather how are the employed counted? how are the employed? and by counted, we mean the bls.
02:02
The bls is the bureau of labor statistics.
02:09
So we want to find out who the bls considered as employed.
02:17
So the employed, the employed are all those people, all those people that that performed performed some type of work.
02:51
They performed some type of work.
02:56
Either they performed some type of work...