that apply. O They are counted as part of the labor force by the Bureau of Labor Statistics. O They are employed workers who want to earn higher wages. O They have not looked for a job in 4 weeks (or longer), but they would like a job and are available for work. O They are full-time workers who would like to work only part-time. The following table contains U.S. employment information from August 2018. Civilian Population Employed Unemployed Discouraged (Persons 16 years old and over) (Persons) (Persons) (Persons) 258,066,000 155,604,000 6,197,000 434,000 The Bureau of Labor Statistics has several measures of joblessness in addition to the official unemployment rate. One alternative is the U-4 measure of labor underutilization, which is calculated as follows: Unemployed+Discouraged Labor Force + Discouraged U-4 = 100 ×

that apply. O They are counted as part of the labor force by the Bureau of Labor Statistics. O They are employed workers who want to earn higher wages. O They have not looked for a job in 4 weeks (or longer), but they would like a job and are available for work. O They are full-time workers who would like to work only part-time. The following table contains U.S. employment information from August 2018. Civilian Population Employed Unemployed Discouraged (Persons 16 years old and over) (Persons) (Persons) (Persons) 258,066,000 155,604,000 6,197,000 434,000 The Bureau of Labor Statistics has several measures of joblessness in addition to the official unemployment rate. One alternative is the U-4 measure of labor underutilization, which is calculated as follows: Unemployed+Discouraged Labor Force + Discouraged U-4 = 100 ×

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 16RQ: Assess whether the following would be counted as unemployed in the Current Employment Statistics...

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Similar questions

What term describes the remaining level of unemployment that occurs even when the economy is healthy?
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Using the above data, what is the unemployment rate? These data are U.S. statistics from 2010. How does it compare to the February 2015 unemployment rate computed earlier?
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Over the long term, has the U.S. unemployment rate generally trended up, trended down, or remained at basically the same level?
What are some of the problems with using the unemployment rate as an accurate measure of overall joblessness?
If many workers become discouraged from looking for jobs, explain how the number of jobs could decline but the unemployment rate could fall at the same time.
Using the definition of the unemployment rate, is an increase in the unemployment rate necessarily a bad thing for a nation?
Assess whether the following would be counted as unemployed in the Current Employment Statistics survey. A husband willingly stays home with children while his wife works. A manufacturing worker whose factory just closed down. A college student doing an unpaid summer internship. A retiree. Someone who has been out of work for two years but keeps looking for a job. Someone who has been out of work for two months but isnt looking for a job. Someone who hates her present job and is actively looking for another one. Someone who decides to take a part time job because she could not find a full time position.
Suppose the adult population over the age of 16 is 237.8 million and the labor force is 153.9 million (of whom 139.1 million are employed). How many people are not in the labor force? What are the proportions of employed, unemployed and nut in the labor force in the population? Hint: Proportions ate percentages.
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