ps3 - Economics 202 Principles of Macroeconomics Name: _...

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Economics 202 Name: _______________ Principles of Macroeconomics Professor Melick Problem Set #3 Due Wednesday February 6, 2008 1. Using not seasonally adjusted data from Tables A-1 and A-13 of the January Employment Situation Summary produced by the Bureau of Labor Statistics (available via http://www.bls.gov/cps/) fill in the table below. Labor Market Statistics, January 2008 not seasonally adjusted in Thousands Civilian Labor Force Employed Unemployed Not in the Labor Force Currently Want a Job Searched for Work and Available Now Not Currently Searching – Discouraged Not Currently Searching – Not Discouraged B. In the space below calculate to two decimals places, showing your work , the official unemployment rate. Calculate three other measures of unemployment – one that redefines the labor force to include discouraged workers, a second that redefines the labor force to include all those who have searched for work and are currently available for work, and a third that redefines the labor force to include all those who currently want a job.
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2. There has been quite a bit of controversy, especially during the 2004 Presidential election, over the best way to measure employment. During that time, the payroll (establishment) and the household surveys showed large differences in employment. Senator Kerry pointed to the payroll numbers when talking about job destruction, while President Bush pointed to the household survey when talking about job creation. Data from the payroll survey and household survey are
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This note was uploaded on 05/13/2010 for the course ECON 323 taught by Professor Jakes during the Spring '10 term at Alcorn State.

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ps3 - Economics 202 Principles of Macroeconomics Name: _...

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