1-20-11 - 1/17/2011 Measuring Unemployment, Real Interest...

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1/17/2011 1 Measuring Unemployment, Real Interest Rates and Exchange Rates How to measure unemployment, real interest rates and exchange rates. Lecture 4, Thursday, January 20 Unemployment Rate Calculated monthly by the Bureau of Labor Statistics Based on a survey of about 60,000 people 16 years old or older Survey classifies everyone as: Employed Unemployed Not in the Labor Force Employed Working for pay or 15+ hours in family business (no pay) or on vacation or leave from paying job Armed forces? 2010: 138,977,000 Unemployed Not working at a job and made efforts to find work or are on layoff awaiting recall or have found job which starts within 30 days 2010: 14,900,000 Not in Labor Force 16 years old or older not institutionalized not employed or unemployed 2010: 83,941,000 (The three add up to 237,818,000. The U.S. population is about 312,000,000. Where’s everybody else?)
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This note was uploaded on 04/25/2011 for the course AGEC 217 taught by Professor Deboer during the Spring '08 term at Purdue University-West Lafayette.

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1-20-11 - 1/17/2011 Measuring Unemployment, Real Interest...

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