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ALTERNATIVE UNEMPLOYMENT RATES: The official unemployment rate estimated and reported monthly by the Bureau of Labor Statistics (BLS) using data from Current Population Survey is one of six alternative measures of unemployment tracked by the BLS, officially labeled U1-U6. The "official" unemployment rate is U3. The other five measures seek to document different ways in which labor can be underutilized, including unemployment duration, job losers, discouraged workers, marginally-attached workers, and part-time workers.
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INCOME RECEIVED BUT NOT EARNED The three types of income received but not earned (IRBNE) are Social Security payments, unemployment compensation payments, and welfare payments. These are three key transfer payments from the government sector to the household sector. The basic goal of transfer payments is to transfer a portion of the income earned by the factors of production (because they HAVE income) to other members of the household sector (who presumably NEED more income than they have). IRBNE is added to national income to derive personal income.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area wanting to buy either a replacement nozzle for your shower or a decorative windchime with plastic . Be on the lookout for slightly overweight pizza delivery guys.
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This isn't me! What am I?
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"The way employees treat customers reflects the manner in which they're treated by management. " -- James Perkins, president, Cornell University
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OECD
Organization for Economic Co-operation and Development
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