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LABOR AGREEMENT: A formal, official, legal contract between a firm and the labor union representing the firm's employees. Such an agreement stipulates the various aspects of employment, including wages, fringe benefits, vacations, layoffs, promotions, and grievance procedures. The terms of the agreement are generally negotiated through the collective bargaining process. Should the collective bargaining process breakdown, the terms of the labor agreement might be helped along through a third-party mediator. If this doesn't help, then the labor union might call a strike or the firm might impose a lockout. Once in effect, any questions about the terms of the agreement are often subject to arbitration.
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                           REFERENCE WEEK, CURRENT POPULATION SURVEY: The calendar week (Sunday through Saturday) containing the 12th day of the month, which is used in the Current Population Survey (CPS) as the time period for documenting the employment and labor force status of respondents. The estimation of the unemployment rate and other employment information generated by the CPS are based on activities of survey respondents during this week. The actual survey is conducted by interviewers working for the Bureau of the Census during the calendar week containing the 19th day, which is termed the survey week. In essence, about 1,500 census survey takers set forth bright and early Sunday morning during the survey week to canvas the country side. Over the course of the next seven days, each survey taker conducts a relatively detailed interview with the occupants of about 40 households. The questions that are posed to the occupants inquire about their activities during the previous week, which is the reference week.A complete week is used as the reference period (rather than a month or a day) because a week is long enough to exclude holidays and erratic, random, one-time aberrations, but short enough to give current employment status. It is also an easily defined time period. The survey week immediately follows the reference week to ensure that respondents have an accurate recollection of their employment status. Should too much time pass between the survey week and the reference week, respondents might understandably forget what they did. The reference week always includes the 12th day of the month to maintain consistency, to provide equal reporting periods, and to avoid monthly aberrations. Changing the reference week from month to month, would, at the very least, provide an inconsistent reporting period.
Recommended Citation:REFERENCE WEEK, CURRENT POPULATION SURVEY, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2026. [Accessed: February 10, 2026].
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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time looking for a downtown retail store seeking to buy either a battery-powered, rechargeable vacuum cleaner or a remote controlled World War I bi-plane. Be on the lookout for malfunctioning pocket calculators.
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Parker Brothers, the folks who produce the Monopoly board game, prints more Monopoly money each year than real currency printed by the U.S. government.
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"Cherish your visions and your dreams as they are the children of your soul; the blue prints of your ultimate achievements." -- Napoleon Hill, Author
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SET
Securities Exchange of Thailand
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