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Subject:
Business & Marketing
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Coursework
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English (U.S.)
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Topic:

Misleading Statistics on Unemployment Rate of United States

Coursework Instructions:

The U.S. government keeps statistics on many people in America. One interesting statistic is the poverty rate. To be living in poverty, one must earn income below a certain threshold (approximately $900 per month). Many multimillionaires are included in this statistic. Recently, Barbara Streisand was "living in poverty." In a particular year, she did not perform live, and her album sales were extremely slow. She has a great deal of wealth but had little income that year. Although she has more money than 99.99% of the rest of the population, the government believed that she was impoverished. What other statistic can you name that is misleading? Why? Reference and cite needed.

Coursework Sample Content Preview:

Misleading Statistics
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Misleading Statistics
According to the United States Bureau of Statistics (BLS), the unemployment rate refers to the percentage of unemployed individuals in the labor force (Bureau of Labor Statistics, 2021). People believed to be unemployed are those seeking a job or work but cannot secure one. In other words, they are willing to work and have the required skills and experience, but work is unavailable.
Despite the public outcry due to the COVID-19 pandemic, the unemployment rate decreased to 4.6% in October 2021. Between February and April 2020, the unemployment rate had reached 5.7% (Bureau of Labor Statistics, 2021). For a person to be counted as unemployed, the individual must have searched for a job in about four weeks without success. In that light, unemployment is significantly affected by people’s willingness to work, which involves talking with potential employers, going for job interviews, and applying for advertised jobs. The unemployment rate does not count individuals without jobs and not searching. These peop...
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