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How the Government Looks at Economic Conditions

How the Government Looks at Economic Conditions - How the...

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How the Government 1 How the Government Looks at Economic Conditions Learning Team B Jeffery Cerasano, Shannan Coleman, Kim Jones, and Christine OFlaherty University of Phoenix ECO212 Dr. Susan Dadres August 30, 2010
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How the Government 2 How the Government Looks at Economic Conditions The concept of economic conditions extends over a variety of issues affecting an economy (Stanley St Labs, n.d.). To see how a nation is doing in the economy; the government studies unemployment rates, inflation rates, and the growth rate. Not only do they study these different rates; they also use both fiscal and monetary policy to stimulate the economy, and slow the growth rate down if necessary. Unemployment Many believe those that collect unemployment determine the unemployment rates, but that is not true. Many unemployed individuals are not eligible for unemployment benefits, for others their benefits may have run out. According to the Labor Bureau of Statistics, 2,200 highly trained Census Bureau employees interview 60,000 sample households during the week of the 12 th each month. The information they are looking for is job seeking, currently employed, or if members of the household are not among the labor force. All information entered each day into the interviewer’s laptop is then transmitted to the Central Bureaus central computer in Washington DC (Bureau of Labor Statistics, 2010). As of July 2010, the unemployment rate is 9.5 percent.
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