UNEMPCLASS - 1 1 Unemployment and Wages Measuring...

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Unformatted text preview: 1 1 Unemployment and Wages ¡ Measuring unemployment and the unemployment rate ¢ Structural, frictional and cyclical unemployment ¢ Discouraged workers and hidden unemployment ¡ Natural Rate of unemployment ¡ Nominal and real wages ¡ Wages and productivity 2 News? 3 Course Issues ¢ Investment Game 3 ¢ Extra Credit ¢ Not Doing Well? ¢ Final Exam Info – next week ¢ Gradebook2 ¢ Check grades!! ¢ Bauman Weds 2 4 Applications Unemployment Situation 5 Applications 66% 4.6% 7,078 146,047 153,124 231,867 2007 66.3% 59.4% Civilian Labor Force Participation Rate 7.4% 5.5% Civilian Unemployment Rate 9,384 3,850 Unemployed 117,598 65,778 Employed 126,982 69,628 Civilian Labor Force 191,576 117,245 Civilian Non-institutional Population (16+) thousands 3/2010 1992 1960 6 Unemployment and Employment Data ¡ Department of Labor – BLS – since 1940 ¢ Monthly survey – CPS (current pop survey) 60,000 Households (not unemp claims) ¢ You or anyone else in hh, unemp and actively seeking work in the previous 4 weeks ¡ People with jobs are employed. People with jobs are employed....
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This note was uploaded on 09/30/2011 for the course ECONOMICS 103 taught by Professor Sheflin during the Spring '08 term at Rutgers.

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UNEMPCLASS - 1 1 Unemployment and Wages Measuring...

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