Unemployment%20-%20HO

Unemployment%20-%20HO - Measuring Unemployment Do you have...

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Measuring Unemployment Do you have a job? YES YES Employed (E) Are you looking for a job? Unemployed (U) NO NO Out of the Labor Force (O) + Labor Force (E+U) + Adult Population (E+U+O) Unemployment Rate Labor Force Participation Rate = = U E+U  100 E+U E+U+O  100
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U.S. Unemployment (August 2010) U.S. Employment Data (August 2010) Employment Status Number (In Thousands) Employed 139,250 Unemployed 14,860 Out of the Labor Force 83,989 Calculate the unemployment rate and labor force participation rate during this month E U O
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Joe Quits his Job……… Joe, fed up with his boss, upset about not getting a raise, quits his job.
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Mary Graduates……… Mary graduates from college…. ..after years of being a full-time student.
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Caroline misses her kids…… Caroline, a successful lawyer, decides to leave her practice and devote her time to raising her two daughters…. ..
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Harry stops looking……… After months of looking for a job with no success, a discouraged Harry decides to stop looking…. .
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Bill is still looking……… Bill is working as a taxi cab driver, even though he has a Ph.D. in History. He decides to apply for a teaching position, a better use of his talents, in his spare time.
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A Quick Summary The unemployment rate gives us the percentage of “would be workers,”
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This note was uploaded on 03/28/2012 for the course ECON 252 taught by Professor Robertholand during the Spring '08 term at Purdue University.

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Unemployment%20-%20HO - Measuring Unemployment Do you have...

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