Chapter 8: Q 25 (page 214)
Would you expect the natural rate of
unemployment to remain the same within one country over the long run of several decades?
Short Answer
Generally, natural rate of unemployment remains same overtime.
Chapter 8: Q 25 (page 214)
Would you expect the natural rate of
unemployment to remain the same within one country over the long run of several decades?
Generally, natural rate of unemployment remains same overtime.
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Suppose the adult population over the age of 16 is 237.8 million and the labor force is 153.9 million (of whom 139.1 million are employed). How many people are “not in the labor force?” What are the proportions of employed, unemployed and not in the labor force in the population? Hint: Proportions are percentages.
If many workers become discouraged from looking for jobs, explain how the number of jobs could decline but the unemployment rate could fall at the same time.
Using the above data, what is the unemployment rate? These data are U.S. statistics from 2010. How does it compare to the February 2015 unemployment rate computed earlier?
What criteria do the BLS use to count someone as employed? As unemployed?
If you are out of school but working part time, are you considered employed or unemployed in U.S. labor statistics? If you are a full time student and working 12 hours a week at the college cafeteria are you considered employed or not in the labor force? If you are a senior citizen who is collecting social security and a pension and working as a greeter at Wal-Mart are you considered employed or not in the labor force?
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