Joel is presently unemployed due to Covid-19. However instead of having employment records to produce he only has records of his full time enrollment at an accredited institution of higher learning for the last 2 years. Will he be eligible to receive either regular or disaster unemployment benefits due to this unique situation he finds himself in ?
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Joel is presently unemployed due to Covid-19. However instead of having employment records to produce he only has records of his full time enrollment at an accredited institution of higher learning for the last 2 years. Will he be eligible to receive either regular or disaster
Unemployment benefits are the payments given by the State to unemployed person. People who can avail this benefit are those who are:
- Unemployed because of any external cause, not because of himself
- Earning a certain wage as set by the state for unemployment benefits.
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- Q20 MCQ Gomer loses his job as a road construction worker and cannot find another position with equivalent pay and benefits. As a result, he is still checking the want ads and reporting to the unemployment office on a weekly basis. He is considered to be: laid off. underemployed. out of the labor force. unemployed.Which of the following statements is incorrect? a. A decrease in the labor participation causes the unemployment rate to decline, otherthings being equal. b. When the BLS publishes Employment Situation report each month, it also releases theresults about employment, hours worked, and employee earnings from EstablishmentSurvey. c. Every month, the BLS computes the unemployment rate based on a survey of about60,000 households (Current Population Survey). d. The broadest measure of labor underutilization, known as u6, is the sum of totalunemployed, plus all marginally attached workers, plus total employed part time foreconomic reasons, as a percent of the civilian labor force.Suppose the civilian noninstitutionalized working-age population is 35.935.9 million in in a hypothetical economy. Of these, 4.64.6 million are working part-time and 15.7115.71 million are working full-time. Assume the Bureau of Labor Statistics (BLS) definitions are used for calculating unemployment data. Among those not working, the most recent job-search activity for 3.203.20 million happened less than two weeks ago, while 1.721.72 million most recently looked for work between two and four weeks ago. An additional 0.860.86 million most recently looked for work five weeks ago, and the remaining 9.819.81 million who do not have jobs have not looked for work in the past six weeks. Round your answers to two decimal places. What is the size of the total labor force? millionmillion How many people are unemployed? millionmillion What is the labor force participation rate? %% What is the unemployment rate? %
- Explain what is: frictional unemployment structural unemployment seasonal unemployment and cyclical unemployment Due to the Covid 19 Health Crisis, the Australian economy is currently experiencing a larger than normal rate of unemployment. What type or types of unemployment would you classify this as, using the categories above? Why? Please explain your answer.David works in a clothing factory. Currently, his firm pays him $40 per hour and he works 35 hours per week. Each hour he works he experiences disutility of effort from working valued at $7 per hour. In addition, should David lose his job the government will pay him an unemployment benefit of $23 per hour, for each hour he would otherwise work each week, for a maximum of 20 weeks. Prior to the coronavirus pandemic if David lost his job the expected duration of unemployment before he would find another job is 15 weeks. a. . Calculate David’s (i) employment rent per hour and his (ii) total employment rent.Here is some data for an economy. Population: 22.5 million Population under the age of 16 years: 7.5 million Discouraged workers: 250,000. Retired people: 1 million Structurally unemployed people: 320,000 Frictionally unemployed people: 220,000 Cyclically unemployed people: 2.2 million Based on this data, what is the approximate unemployment rate in this economy? Answers: 16% 19.6% 19.93% 80.07%
- You have been asked to provide expertise on the macroeconomic conditions of several countries, and have been given the following information about the labor force, number of employed workers, and natural rate of unemployment in each country: Country Labor Force (millions) Employed (millions) Natural rate of unemployment Bumdumbourge 130 120 6.3% Mundelow 465 437 6.5% Totalslava 88 82 6.9% Potamia 285 264 7.3% Dortugal 311 295 5.5% Prance 396 355 9.2% a. From the data given, which country has the largest number of unemployed people? b. Totalslava has the smallest number of unemployed people; how does its unemployment rate compare to Bumdumbourge and Mundelow? c. Which countries are currently in recession? Which countries are experiencing a boom?Suppose the civilian noninstitutionalized working-age population is 35.9 million in in a hypothetical economy. Of these, 4.4million are working part-time and 13.19 million are working full-time. Assume the Bureau of Labor Statistics (BLS) definitions are used for calculating unemployment data. Among those not working, the most recent job-search activity for 3.40 million happened less than two weeks ago, while 1.72million most recently looked for work between two and four weeks ago. An additional 0.86 million most recently looked for work five weeks ago, and the remaining 12.33 million who do not have jobs have not looked for work in the past six weeks. Round your answers to two decimal places. What is the size of the total labor force? million How many people are unemployed? million What is the labor force participation rate? % What is the unemployment rate?Define and give at least one example of the three types of unemployment. chapter 20
- Q. 12-15. Consider the standard job search model as described in the text. (a) Why are the asking wage and expected unemployment duration positively related? (b) Can the standard job search model explain why unemployment duration is longer, on average, for secondary workers when compared to primary workers? Discuss. (c) In the context of the standard search model, explain how the economy-wide average asking wage and unemployment duration are affected by an expanded underground (cash) economy. What is the effect on the equilibrium unemployment rate? BOOK: Labor Economics, 8th Edition, by George Borjas, published by McGraw-Hill. Chapter 12Q7. What type of unemployment (cyclical,seasonal, frictional or structural) applies to each of the following: Only 1 answer each.Although the unemployment rate is not a perfect measure (failing to account for potential increases in discouraged or underemployed workers), it remains a key indicator of a nation’s economic health. While Germany now enjoys a healthy unemployment rate of only 3.6% as of December 2017, the labor market has not always been booming in this European country. For example, as recently as 2005, German unemployment accounted for nearly 10% of the labor force. There are many factors that contributed to the turnaround of Germany’s labor market over the last decade, including wage decentralization and increased competitiveness according to an article from the Harvard Business Review (Alexandra Spitz-Oener, “The Real Reason the German Labor Market Is Booming,” March 13, 2017). However, one of the most well-known policy changes of the early 21st century was the Hartz reforms, which included a sharp decrease in unemployment benefits that altered the incentives of unemployed workers. Before the…