Chapter 3 Section 2

What division of the U.S. government conducts surveys to gather information on the people employed in America?

Bureau of Labor Statistics

The Bureau of Labor Statistics, BLS, reports the most widely known statistic which is ______

unemployment rate

The practice of contracting with another company to do a specific job that would otherwise be done by the company's own workers is called _______

outsourcing

The movement of some of a company's operations to another country have greatly caused huge shifts in demand of workers and is known as __________

offshoring

A highly controversial issue in today's labor force is the employment of __________

foreign born workers

Employment in a labor market depends on how closely the _______ for workers (number of jobs) meets the ________ of workers seeking jobs

Demand, Supply

__________ = a type of demand that is set by the demand for another good/service

derived demand

Wages are often determined by the ______, or the quantity of output produced by a unit of labor

productivity of labor

The higher the wage for a job, the higher the _________ seeking that job

number of people