Which of the following statements correctly describe discouraged workers? (If none of the choices apply, leave all of the checkboxes blank.) Check all that apply. O They have given up on looking for a job. V They are full-time workers who would like to work only part-time. O They are counted as part of the labor force by the Bureau of Labor Statistics. O They are dissatisfied with their current jobs and are considering quitting. The following table contains U.S. employment information from July 2019. Civilian Population Employed Unemployed Discouraged (Persons 16 years old and over) (Persons) (Persons) (Persons) 259,225,000 157,288,000 6,063,000 368,000 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: U-4 = 100 x Unemployed+Discouraged Labor Force + Discouraged Fill in the following table by calculating the official unemployment rate and the U-4 measure of labor underutilization. Official Unemployment Rate U-4 Measure of Labor Underutilization (Percent) (Percent) The official unemployment rate and the U-4 measure of labor underutilization are two different measures of joblessness in the economy. If the Bureau of Labor Statistics were to include discouraged workers in the official unemployment rate, the reported unemployment rate would
Which of the following statements correctly describe discouraged workers? (If none of the choices apply, leave all of the checkboxes blank.) Check all that apply. O They have given up on looking for a job. V They are full-time workers who would like to work only part-time. O They are counted as part of the labor force by the Bureau of Labor Statistics. O They are dissatisfied with their current jobs and are considering quitting. The following table contains U.S. employment information from July 2019. Civilian Population Employed Unemployed Discouraged (Persons 16 years old and over) (Persons) (Persons) (Persons) 259,225,000 157,288,000 6,063,000 368,000 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: U-4 = 100 x Unemployed+Discouraged Labor Force + Discouraged Fill in the following table by calculating the official unemployment rate and the U-4 measure of labor underutilization. Official Unemployment Rate U-4 Measure of Labor Underutilization (Percent) (Percent) The official unemployment rate and the U-4 measure of labor underutilization are two different measures of joblessness in the economy. If the Bureau of Labor Statistics were to include discouraged workers in the official unemployment rate, the reported unemployment rate would
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter20: Unemployment
Section: Chapter Questions
Problem 6PA
Related questions
Question
Transcribed Image Text:Which of the following statements correctly describe discouraged workers? (If none of the choices apply, leave all of the checkboxes blank.) Check all
that apply.
O They have given up on looking for a job.
V They are full-time workers who would like to work only part-time.
O They are counted as part of the labor force
the Bureau of Labor Statistics.
O They are dissatisfied with their current jobs and are considering quitting.
The following table contains U.S. employment information from July 2019.
Civilian Population
Employed
Unemployed
Discouraged
(Persons 16 years old and over)
(Persons)
(Persons)
(Persons)
259,225,000
157,288,000
6,063,000
368,000
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:
U-4 = 100 x Unemployed+Discouraged
Labor Force + Discouraged
Fill in the following table by calculating the official unemployment rate and the U-4 measure of labor underutilization.
Official Unemployment Rate
U-4 Measure of Labor Underutilization
(Percent)
(Percent)
The official unemployment rate and the U-4 measure of labor underutilization are two different measures of joblessness in the economy.
If the Bureau of Labor Statistics were to include discouraged workers in the official unemployment rate, the reported unemployment rate would
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Recommended textbooks for you
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Brief Principles of Macroeconomics (MindTap Cours…
Economics
ISBN:
9781337091985
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Brief Principles of Macroeconomics (MindTap Cours…
Economics
ISBN:
9781337091985
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Macroeconomics: Private and Public Choice (MindTa…
Economics
ISBN:
9781305506756
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
Economics: Private and Public Choice (MindTap Cou…
Economics
ISBN:
9781305506725
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning