# Year weeks and working 35 hours or more a week 5 full

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Year-round= 50-52 weeks and working 35 hours or more a week 5
full-time= 40 hours a week minimum, 50-52 weeks a year Find the Top Picks link for "Labor Force Statistics including the National Unemployment Rate". From there get the monthly unemployment rate from 1992 to the present for the same 3 groups as in (1). 4 Make a time-series graph showing the unemployment rate for all 3 groups. 5 What do you learn from this graph? Also: Graphs should include the source of the data. (For an example, see the graph of median weekly earnings for men and women at the end of this assignment. Note the "Source" citation at the bottom.) 5.(x pts.) An important fact about the US economy is growing income inequality. You have now seen that there are large earnings gaps by educational attainment. But how have these gaps changed over time? The US Census Bureau presents historical CPS data which allows us to examine this question. Go to the US Census Bureau website: . Click on the “Browse by Topic” link at the top of the page, then click "Income and Poverty" and then click on "Income". Next, click on “Data Tables”. Find the link for “Historical Income Tables: People”. Open Table P-24 (“Educational Attainment- Full-Time, Year-Round Workers 25 Years Old and Over by Median Earnings and Sex”) . We will focus on men (but the information in this table would allow you to see how gender earnings differentials are evolving, too). From this table, get Median income (2017 dollars) 6 for Males with exactly a Bachelor's Degree and those who are High School Graduates (including equivalency) for the years 1992 to the present. 1992 1996 2000 2004 2008 2012 2016 1992 1996 2000 2004 2008 2012 2016 1993 1997 2001 2005 2009 2013 2017 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 Jan 4 Actually, the unemployment data isn't given for the exact same 3 groups. For college educated use the group "25 Yrs. & Over, Bachelor's Degree and Higher." 5 The "default" way the data is presented is in "Table format", but you will want "Column format" to do this, click on the link for "More formatting options". If you do this correctly, there will be 3 lines on your graph--one for each level of education--and not a different line for each month. 6 You will note that there are two columns: "current dollars" and "2017 dollars". The 2017 dollars adjusts income for inflation. For example, median income for a male high school graduate in 1992 was \$26,699. But that is equivalent to \$45,853 in 2017. 6
Calculate the ratio of median income of college graduates to median income of high school graduates for each year and create a time-series graph of the ratio. What has been happening with this ratio over time? Year Ratio 1992 6.8:3.2 1993 6.3:2.9 1994 5.35:2.5 1995 4.7:2.45 1996 4.65:2.2 5 1997 4.2:2.05 1998 4.0:1.8 1999 3.5:1.8 2000 3.4:1.6 2001 4.0:2.2 2002 5.3:2.9 2003 5.4:3.1 2004 4.95:2.7 2005 4.75:2.3 2006 4.3:2.1 2007 4.4:2.05 2008 5.25:2.4 5 2009 9.7:4.8 2010 10.1:4.7 2011 9.45:4.3 2012 8.3:4.0 2013 7.5:3.8 2014 6.1:3.2 2015 5.4:2.5 2016 5.15:2.5 2017 4.6:2.3 2018 4.0:2.15 2019 3.65:2.1 Note: You will (should) notice that 2013 has two entries. The Census changed the way earnings were measured after 2013. For 2013, the CPS sample was split. For about 30% of the sample earnings are measured using the redesigned survey (reported in the row with the “39” footnote—the 39 in parentheses after the year in the first column). For 2013 using the row with the “38” footnote 7