Honors Homework No. 1 Spring 2011

Honors Homework No. 1 Spring 2011 - Econ 2203 Honors...

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Econ 2203 Honors Section Spring 2011 Homework Assignment No. 1 Instructions: Type your answer and state the sources of your data. Work independently from other class members. The official unemployment rate does not include discouraged workers or involuntary part-time workers. This assignment involves looking at the relationship between the official unemployment rate and the unemployment rate that includes discouraged workers and involuntary part-time workers. We will label the latter U-6 while the former is simply U. Necessary data is found on the bls.gov website. I have included an embedded spreadsheet with some of the data filled in. I also have included the template of the graph you will need. 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
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Honors Homework No. 1 Spring 2011 - Econ 2203 Honors...

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