HW #3 - Dak Hall Econ 2203.701 Homework Answers 1 What is...

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Dak Hall Econ 2203.701 2/24/2011 Homework Answers 1. What is the Bureau of Labor Statistics official definition of what U-6 includes? a. The BLS views discouraged workers as “those people who are not in the labor force, but want and are available for work, and who have looked for a job sometime in the prior 12 months. However, these people are not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey.” In addition the BLS views involuntary part-time workers as “individuals wanting full-time jobs but working less than 35 hours during the survey reference week primarily due to slack work or the inability to find full- time work due to economic reasons.” 2. Explain in words what the values in the fourth column represent. a. The values in the fourth column represent the unemployment rate subtracted from the unemployment rate plus the discouraged and involuntary part-time workers. This new rate in the fourth column represents the rate of people who
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HW #3 - Dak Hall Econ 2203.701 Homework Answers 1 What is...

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