Unemployment Part I

Unemployment Part I - PRINCIPLES OF MACROECONOMICS...

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PRINCIPLES OF MACROECONOMICS UNEMPLOYMENT Or the statistic that determines elections Foster
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2 The US unemployment rate hit a 26-year high in 2009 The US Unemployment Rate 9.3%
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3 The US Unemployment Rate
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The U.S. Unemployment Rate, 1948-2008 1948 1960 1970 1980 1990 2000 2008 Year 12% 10 8 6 4 2 Unemployment Rate 4
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5 Measuring Unemployment The official US unemployment rate (U-3) produced by Bureau of Labor Statistics (BLS) in the U.S. Department of Labor The Current Population Survey (CPS) is a monthly survey of 60,000 households conducted by the Bureau of Census for the BLS. Based on adults (16 yrs or older)/non- institutional (not in jail or hospital)/civilian population/full or part-time
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6 Measuring Unemployment BLS divides the US population into 3 groups: Employed : paid employees, self-employed, and unpaid workers in a family business Unemployed : people not working who have actively looked for work in the last 4 weeks Not in the labor force : everyone else The labor force is the total number of workers, including the employed and unemployed.
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Unemployment Part I - PRINCIPLES OF MACROECONOMICS...

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