00:01
We're going to be talking about unemployment and the labor force today.
00:03
So the first thing is that we're looking for the total or the size of the total labor force.
00:08
Now the labor force includes all people working or looking for jobs.
00:12
It does not include people who aren't looking.
00:16
So we know we have 15 .71 million people working full -time, 4 .6 million people working part -time, and then let's look at the people who are looking for jobs.
00:41
We have 3 .2 million people who have looked in the last two weeks, 1 .72 million people in the last two and four weeks, and then 0 .86 million people who look more than that.
01:11
But all of these people are looking for jobs or have jobs.
01:15
So if we sum these up, we get that the total labor force is equal to 26 .09 million people.
01:35
Now, our next question is asking for how many people are unemployed.
01:38
And again, this includes the number of people who are looking for jobs, but not the people who have not looked for work...