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In economics, the absence rate is the ratio of workers with absences to total full-time wage and salary employment. In the United States, absences are defined as instances when persons who usually work 35 or more hours per week worked less than 35 hours during the reference week for one of the following reasons: own illness, injury, or medical problems; childcare problems; other family or personal obligations; civic or military duty; and maternity or paternity leave. [1]
Economics is the social science that studies the production, distribution, and consumption of goods and services.
The United States of America (USA), commonly known as the United States or America, is a country comprising 50 states, a federal district, five major self-governing territories, and various possessions. At 3.8 million square miles, the United States is the world's third or fourth largest country by total area and is slightly smaller than the entire continent of Europe, which is 3.9 million square miles. With a population of over 327 million people, the U.S. is the third most populous country. The capital is Washington, D.C., and the most populous city is New York City. Most of the country is located contiguously in North America between Canada and Mexico.
Injury, also known as physical trauma, is damage to the body caused by external force. This may be caused by accidents, falls, hits, weapons, and other causes. Major trauma is injury that has the potential to cause prolonged disability or death.
In 2005, workers in the education and health services sector had the highest absence rate in the private sector at 4.0 percent, while workers in natural resources, construction, and maintenance occupations and in management, professional, and related occupations had the lowest absence rates. [2] [3] [4]
The Bureau of Labor Statistics (BLS) is a unit of the United States Department of Labor. It is the principal fact-finding agency for the U.S. government in the broad field of labor economics and statistics and serves as a principal agency of the U.S. Federal Statistical System. The BLS is a governmental statistical agency that collects, processes, analyzes, and disseminates essential statistical data to the American public, the U.S. Congress, other Federal agencies, State and local governments, business, and labor representatives. The BLS also serves as a statistical resource to the United States Department of Labor, and conducts research into how much families need to earn to be able to enjoy a decent standard of living.
The Current Population Survey (CPS) is a monthly survey of about 60,000 U.S. households conducted by the United States Census Bureau for the Bureau of Labor Statistics (BLS). The BLS uses the data to publish reports early each month called the Employment Situation. This report provides estimates of the unemployment rate and the numbers of employed and unemployed people in the United States based on the CPS. A readable Employment Situation Summary is provided monthly. Annual estimates include employment and unemployment in large metropolitan areas. Researchers can use some CPS microdata to investigate these or other topics.
Collective bargaining is a process of negotiation between employers and a group of employees aimed at agreements to regulate working salaries, working conditions, benefits, and other aspects of workers' compensation and rights for workers. The interests of the employees are commonly presented by representatives of a trade union to which the employees belong. The collective agreements reached by these negotiations usually set out wage scales, working hours, training, health and safety, overtime, grievance mechanisms, and rights to participate in workplace or company affairs.
Employment is a relationship between two parties, usually based on a contract where work is paid for, where one party, which may be a corporation, for profit, not-for-profit organization, co-operative or other entity is the employer and the other is the employee. Employees work in return for payment, which may be in the form of an hourly wage, by piecework or an annual salary, depending on the type of work an employee does or which sector they are working in. Employees in some fields or sectors may receive gratuities, bonus payment or stock options. In some types of employment, employees may receive benefits in addition to payment. Benefits can include health insurance, housing, disability insurance or use of a gym. Employment is typically governed by employment laws, organisation or legal contracts.
A wage is monetary compensation paid by an employer to an employee in exchange for work done. Payment may be calculated as a fixed amount for each task completed, or at an hourly or daily rate, or based on an easily measured quantity of work done.
In economics, a discouraged worker is a person of legal employment age who is not actively seeking employment or who has not found employment after long-term unemployment, but who would prefer to be working. This is usually because an individual has given up looking, hence the term "discouraged".
Freelance, freelancer, and freelance worker, are terms commonly used for a person who is self-employed and is not necessarily committed to a particular employer long-term. Freelance workers are sometimes represented by a company or a temporary agency that resells freelance labor to clients; others work independently or use professional associations or websites to get work.
A salary is a form of payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages, where each job, hour, or other unit is paid separately, rather than on a periodic basis. From the point of view of running a business, salary can also be viewed as the cost of acquiring and retaining human resources for running operations, and is then termed personnel expense or salary expense. In accounting, salaries are recorded on payroll accounts.
The working poor are working people whose incomes fall below a given poverty line due to lack of work hours and/or low wages. Largely because they are earning such low wages, the working poor face numerous obstacles that make it difficult for many of them to find and keep a job, save up money, and maintain a sense of self-worth.
The workforce or labour force is the labour pool in employment. It is generally used to describe those working for a single company or industry, but can also apply to a geographic region like a city, state, or country. Within a company, its value can be labelled as its "Workforce in Place". The workforce of a country includes both the employed and the unemployed. The labour force participation rate, LFPR, is the ratio between the labour force and the overall size of their cohort. The term generally excludes the employers or management, and can imply those involved in manual labour. It may also mean all those who are available for work.
Frictional unemployment is a type of unemployment. It is sometimes called search unemployment and can be based on the circumstances of the individual. It is time spent between jobs when a worker is searching for a job or transitioning from one job to another. Frictional unemployment is one of the three broad categories of unemployment, the others being structural unemployment and cyclical unemployment. A person may be looking for a job change for better opportunities, services, salary and wages, or because of dissatisfaction with the previous job. Strikes by trade unions also give rise to frictional unemployment.
An Overseas Filipino is a person of Filipino origin who lives outside the Philippines. This term applies to Filipinos who are abroad indefinitely as citizens or as permanent residents of a different country and to those Filipino citizens abroad for a limited, definite period, such as on a work contract or as students. It can also refer to a person who is of Filipino descent.
The gender pay gap in the United States is the ratio of female-to-male median or average yearly earnings among full-time, year-round workers.
The minimum wage in the United States is set by US labor law and a range of state and local laws. Employers generally have to pay workers the highest minimum wage prescribed by federal, state, and local law. Since July 24, 2009, the federal government has mandated a nationwide minimum wage of $7.25 per hour. As of January 2018, there were 29 states with a minimum wage higher than the federal minimum. From 2017 to 2018, eight states increased their minimum wage levels through automatic adjustments, while increases in eleven other states occurred through referendum or legislative action.
The Organisation for Economic Co-operation and Development defines the employment rate as the employment-to-population ratio. This is a statistical ratio that measures the proportion of the country's working age population that is employed. This includes people that have stopped looking for work. The International Labour Organization states that a person is considered employed if they have worked at least 1 hour in "gainful" employment in the most recent week.
In economics, alternative employment arrangements are categorized in four types of alternative employment arrangements: independent contractors, on-call workers, temporary help agency workers, and workers provided by contract firms.
In the United States, the civilian noninstitutional population refers to people 16 years of age and older residing in the 50 States and the District of Columbia who are not inmates of institutions, and who are not on active duty in the Armed Forces.
In the United States, a complete income reporter is a person who provides values for major sources of income, such as wages and salaries, self-employment income, and social security income.
In statistics relating to national economies, the indexation of contracts also called "index linking" and "contract escalation" is a procedure when a contract includes a periodic adjustment to the prices paid for the contract provisions based on the level of a nominated price index. The purpose of indexation is to readjust contracts to account for inflation. In the United States, the consumer price index (CPI), producer price index (PPI), and, in the U.S., Employment Cost Index (ECI) are the most frequently used indexes.
The Labor policy in the Philippines is specified mainly by the country’s Labor Code of the Philippines and through other labor laws. They cover 38 million Filipinos who belong to the labor force and to some extent, as well as overseas workers. They aim to address Filipino workers’ legal rights and their limitations with regard to the hiring process, working conditions, benefits, policymaking on labor within the company, activities, and relations with employees.
Wage theft is the denial of wages or employee benefits rightfully owed to an employee. It can be conducted by employers in various ways, among them failing to pay overtime; violating minimum-wage laws; the misclassification of employees as independent contractors, illegal deductions in pay; forcing employees to work "off the clock", not paying annual leave or holiday entitlements, or simply not paying an employee at all.
Unemployment in India statistics has traditionally been collected, compiled and disseminated once every five years by the Ministry of Labour and Employment (MoLE), primarily from sample studies conducted by the National Sample Survey Office. Other than these 5-year sample studies, India has – except since 2016 – never routinely collected monthly, quarterly or yearly nationwide employment and unemployment statistics. In 2016, Centre for Monitoring Indian Economy – a non-government entity based in Mumbai, started sampling and publishing monthly unemployment in India statistics.
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