Sp10+E202+Homework+1+key

Sp10+E202+Homework+1+key - Name_ ID#_ CL Session_ E202...

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Name________________________ E202 Homework #1 ID#_______________ CL Session___ Due: Beginning of CL #1 1. What are the three categories into which the Bureau of Labor Statistics divides everyone? What are the formulas for the labor force, the unemployment rate, and the labor-force participation rate? Employed, Unemployed, and not in the Labor Force LF = E + UE UER = UE/LF LFPR = LF/Adult pop (16+) 2. Define the following categories of unemployment and give an example of each: a. seasonal unemployment This is caused by seasonal change, e.g., construction workers. b. structural unemployment This is caused by long-term changes in the structure of the economy, including Specific industries, “downsizing” “outsourced jobs”, e.g., steel workers. c. frictional employment This is caused by changing jobs, new entrants, re-entrants, e.g., recent college grad looking for a job. d. cyclical unemployment This is caused by general downturns in the economy, e.g., realtor who loses his job during a recession. 3. Use the BLS web site. Find the November 2009 data for following categories: Employment
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This note was uploaded on 02/02/2010 for the course ECON-E 202 taught by Professor Nahn during the Spring '08 term at Indiana.

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Sp10+E202+Homework+1+key - Name_ ID#_ CL Session_ E202...

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