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1.1Explain how the unemployment rate is calculated in the United States. Show how the most recent monthly unemployment rate is calculated using the Emplo

1.1Explain how the unemployment rate is calculated in the United States. Show how the most recent monthly unemployment rate is calculated using the Emplo

Micro Economics For Today
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter12: Income Distribution, Poverty, And Discrimination
Section12.5: Discrimination
Problem 2.1YTE
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1.1Explain how the unemployment rate is calculated in the United States. Show how the most recent monthly unemployment rate is calculated using the Employment Situation Summary Table A. Household Data, seasonally adjusted table.

1.2 2) Calculate the percentage change in U.S. unemployment rate from February 2015 (recall this February2015 rate is contained in Exhibit 1 in chapter seven) to the most recent month contained in the Employment Situation Summary Table A. Household Data, seasonally adjusted table. Show your calculation and be clear what months of data you are using in your calculation.

 

8:58 PM Tue Mar 23 * 57% A bls.gov – Private Change from: Jan. 2021- Feb. 2021 Feb. Dec. Jan. Feb. Category 2020 2020 2021 2021 Employment status Civilian noninstitutional population 259,628 261,230 260,851 260,918 67 Civilian labor force 164,448 160,567 160,161 160,211 50 Participation rate 63.3 61.5 61.4 61.4 0.0 Employed 158,732 149,830 150,031 150,239 208 Employment-population ratio 61.1 57.4 57.5 57.6 0.1 Unemployed 5,717 10,736 10,130 9,972 -158 Unemployment rate 3.5 6.7 6.3 6.2 -0.1 Not in labor force 95,180 100,663 100,690 100,708 18 Unemployment rates Total, 16 years and over 3.5 6.7 6.3 6.2 -0.1 Adult men (20 years and over) Adult women (20 years and over) Teenagers (16 to 19 years) 3.2 6.4 6.0 6.0 0.0 3.1 6.3 6.0 5.9 -0.1 11.5 16.0 14.8 13.9 -0.9 White 3.0 6.0 5.7 5.6 -0.1 Black or African American 6.0 9.9 9.2 9.9 0.7 Asian 2.4 5.9 6.6 5.1 -1.5 Hispanic or Latino ethnicity 4.4 9.3 8.6 8.5 -0.1 Total, 25 years and over 2.9 5.8 5.7 5.6 -0.1 Less than a high school diploma 5.8 9.8 9.1 10.1 1.0 High school graduates, no college 3.5 7.8 7.1 7.2 0.1 Some college or associate degree 3.0 6.3 6.2 5.9 -0.3 Bachelor's degree and higher 1.9 3.8 4.0 3.8 -0.2 Reason for unemployment Job losers and persons who completed temporary jobs 2,686 7,210 6,997 6,586 -411 Job leavers 766 743 653 701 48 Reentrants 1,798 2,250 1,963 2,124 161 New entrants 512 509 542 582 40 Duration of unemployment Less than 5 weeks 2,082 2,904 2,278 2,185 -93 5 to 14 weeks 1,753 2,222 2,528 2,254 -274 15 to 26 weeks 817 1,572 1,346 1,407 61 27 weeks and over 1,111 3,956 4,023 4,148 125 Employed persons at work part time LO 53.
Transcribed Image Text:8:58 PM Tue Mar 23 * 57% A bls.gov – Private Change from: Jan. 2021- Feb. 2021 Feb. Dec. Jan. Feb. Category 2020 2020 2021 2021 Employment status Civilian noninstitutional population 259,628 261,230 260,851 260,918 67 Civilian labor force 164,448 160,567 160,161 160,211 50 Participation rate 63.3 61.5 61.4 61.4 0.0 Employed 158,732 149,830 150,031 150,239 208 Employment-population ratio 61.1 57.4 57.5 57.6 0.1 Unemployed 5,717 10,736 10,130 9,972 -158 Unemployment rate 3.5 6.7 6.3 6.2 -0.1 Not in labor force 95,180 100,663 100,690 100,708 18 Unemployment rates Total, 16 years and over 3.5 6.7 6.3 6.2 -0.1 Adult men (20 years and over) Adult women (20 years and over) Teenagers (16 to 19 years) 3.2 6.4 6.0 6.0 0.0 3.1 6.3 6.0 5.9 -0.1 11.5 16.0 14.8 13.9 -0.9 White 3.0 6.0 5.7 5.6 -0.1 Black or African American 6.0 9.9 9.2 9.9 0.7 Asian 2.4 5.9 6.6 5.1 -1.5 Hispanic or Latino ethnicity 4.4 9.3 8.6 8.5 -0.1 Total, 25 years and over 2.9 5.8 5.7 5.6 -0.1 Less than a high school diploma 5.8 9.8 9.1 10.1 1.0 High school graduates, no college 3.5 7.8 7.1 7.2 0.1 Some college or associate degree 3.0 6.3 6.2 5.9 -0.3 Bachelor's degree and higher 1.9 3.8 4.0 3.8 -0.2 Reason for unemployment Job losers and persons who completed temporary jobs 2,686 7,210 6,997 6,586 -411 Job leavers 766 743 653 701 48 Reentrants 1,798 2,250 1,963 2,124 161 New entrants 512 509 542 582 40 Duration of unemployment Less than 5 weeks 2,082 2,904 2,278 2,185 -93 5 to 14 weeks 1,753 2,222 2,528 2,254 -274 15 to 26 weeks 817 1,572 1,346 1,407 61 27 weeks and over 1,111 3,956 4,023 4,148 125 Employed persons at work part time LO 53.
9:02 1 ull LTE O 1 Search Aa <» Q A 157.0 million, yielding an unemployment rate of 5.5 percent (= 8.7/157.0). The Adult Population Sums the Employed, the Unemployed, and Those Not in the Labor Force: February 2015 (in Millions) Exhibit 1. Unemployed (8.7) LABOR FORCE (157.0) NOT WORKING (101.6) Employed (148.3) Not in labor force (92.9) The labor force, depicted by the left circle, consists of those employed plus those unemployed. Those not working, depicted by the right circle, consists of those not in the labor force and those unemployed. The adult population sums the employed, the unemployed, and those not in the labor force. Source: Figures are for February 2015 from the U.S. Bureau of Labor Statistics. For the latest data, go to http://www.bls.gov/news.release/empsit.toc.htm. 7-1b. Labor Force Participation Rate Вack Reader Contents Notebook Bookmarks More IK !
Transcribed Image Text:9:02 1 ull LTE O 1 Search Aa <» Q A 157.0 million, yielding an unemployment rate of 5.5 percent (= 8.7/157.0). The Adult Population Sums the Employed, the Unemployed, and Those Not in the Labor Force: February 2015 (in Millions) Exhibit 1. Unemployed (8.7) LABOR FORCE (157.0) NOT WORKING (101.6) Employed (148.3) Not in labor force (92.9) The labor force, depicted by the left circle, consists of those employed plus those unemployed. Those not working, depicted by the right circle, consists of those not in the labor force and those unemployed. The adult population sums the employed, the unemployed, and those not in the labor force. Source: Figures are for February 2015 from the U.S. Bureau of Labor Statistics. For the latest data, go to http://www.bls.gov/news.release/empsit.toc.htm. 7-1b. Labor Force Participation Rate Вack Reader Contents Notebook Bookmarks More IK !
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