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The labor force includes all persons classified as employed or unemployed.
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The labor force as a percent of the civilian noninstitutional population.
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Labor productivity refers to the relationship between output and the labor time used in generating that output. It is the ratio of output per hour.
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Sum(p2q1)/Sum(p1q1)--A weighted aggregative index showing the ratio of expenditures in the current period (p2q1: where p2 is the current period price and q1 is the base period quantity) to the expenditure in the base period (p1q1: where p1 is the current period price and q1 is the base period quantity) to purchase the identical market basket of items. It answers the question "How much more or less does it cost now to purchase the same items as in the base period?". The main shortcoming of the Laspeyres index is in that it does not track actual expenditures because consumers adjust their buying in response to changes in relative price, changing the composition of the market basket. This invalid assumption that consumer demand is totally price inelastic causes the index to overstate the actual effect on consumers when there is a change in prices.
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A separation of an employee from an establishment that is initiated by the employer; an involuntary separation; a period of forced unemployment.
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A contract that pays the beneficiary a set sum of money upon the death of the policyholder. These plans pay benefits as a lump sum.
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Provides a monthly benefit to employees who, due to injury or illness, are unable to perform the duties of their normal occupation or any other, for periods of time extending beyond their short-term disability and/or sickness and accident insurance.
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Cases which involve days away from work, or days of restricted work activity, or both.
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Those cases which result in days away from work, or a combination of days away from work and days of restricted work activity.
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Those cases which result in restricted work activity only.
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Hours absent as a percent of hours usually worked. 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; child-care problems; other family or personal obligations; civic or military duty; and maternity or paternity leave.
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These are made to employees in lieu of a general wage rate increases. The payment may be a fixed amount as set forth in a labor agreement or an amount determined by a formula. For example, 2.5 percent of an employee’s earnings (wages, cost-of-living allowance payments, shift differential payments) during the prior year. Lump-sum payments are not incorporated into an employee’s base pay rate or salary.
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