1318000 the bureau of labor statistics has several

This preview shows page 1 - 2 out of 2 pages.

1,318,000The Bureau of Labor Statistics has several measures of joblessness in addition to the official unemploymentrate. One alternative is the U­4 measure of labor underutilization, which is calculated as follows:They are employed workers who want to earn higher wages.They have given up on looking for a job.They have not looked for a job in 6 weeks, but they would like a job and are available for work.They are full­time workers who would like to work only part­time.
Points:1 / 1Points:1 / 1
Fill in the following table by calculating the official unemployment rate and the U­4 measure of laborunderutilization.Official Unemployment RateU­4 Measure of Labor Underutilization(Percent)(Percent)9.4210.19The official unemployment rate and the U­4 measure of labor underutilization are two different measures ofjoblessness in the economy.Excludingdiscouraged workers from the official unemployment rate may cause the official rate tounderstatethe true extent of underemployment.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture