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APA
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Mathematics & Economics
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English (U.S.)
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Topic:

What Factors Make it Difficult to Determine the Unemployment Rate (Coursework Sample)

Instructions:

DATA EXERCISE #2

Please note that Use of APA Citation Methodology is required for all parts of the assignment

Consists of three parts

Part 1: The Unemployment Rate (weight 30% of the assignment grade)

Complete the following exercise

Visit the Bureau of Labor Statistics Web Site,

www(dot)bls(dot)gov/news.release/empsit.toc.htm . Select Employment Situation Summary.

Write a report (1-2 pages double - spaced) to answer the questions:

1  What month (and year) is summarized? What was the unemployment rate for that month? How does that rate compare with the rate in the previous month?

2  What were the unemployment rates for adult women, teenagers, blacks, Hispanics, and whites? How did these rates compare with those a month earlier?

3  What factors make it difficult to determine the unemployment rate? 

4  Why is unemployment an economic problem?

1  What are the noneconomic effects of unemployment?

2  Who loses from unemployment? 

 

Part 2: The Inflation Rate (weight 30% of the assignment grade)

Complete the following exercise:

Visit the Bureau of Labor Statistics Web Site,

www(dot)bls(dot)gov/news.release/cpi.toc.htm . Select Consumer Price Index Summary.

Write a report (1-2 pages double - spaced) to answer the questions:

1  What month (and year) is summarized? What was CPI-U for that month?

2   What was the rate of inflation (percentage change in the CPI-U) for the month? How does that rate of inflation compare with the rate in the previous month?

3  Which two categories of goods or services had the greatest price increase for the month?

4  Which two categories of goods or services had the lowest price increase (or greatest price decrease) for the month?

5  Who loses from inflation? 

 

Part 3: Unemployment Data by Labor Force Groups and Duration (40% of the project grade)

Go to https://www(dot)whitehouse(dot)gov/administration/eop/cea/economic-report-of-the-President/2015

- the home page of the Economic Report of the President.

Scroll down and Click on the link download individual tables as Excel

This link is located below Appendix B: Statistical Tables Relating to Income, Employment, and Production.

a.       Find unemployment data (Table B–12.—Civilian unemployment rate) for the following four years 1995, 2000, 2005, and the last available year. Use four labor force groups: males, and females, in each case 16 to 19 years of age, versus 20 years of age or over. Present the result in your project as a table.

b.     Use the Economic Report of the President (Table B–13.—Unemployment by duration and reason) to find data on the duration of unemployment in 1995, 2000, 2005, and the last available year. Present the result in your project as a table.

Write a report (1-2 pages double-spaced) about the results you received.

 In this paper consider, but do not be limited to the following:

 

5  Compare the distribution of unemployment by duration over these years. What relationship, if any, do you find?

6  Starting in the early 1990s many U.S. firms downsized their operations. In your opinion, how did this affect the duration of unemployment?

3  Demographic studies show that the proportion of teenagers and minorities in the U.S. population is likely to increase in the near future. In your opinion, what implications, if any, will this trend have on the natural rate of unemployment?

 

 

 

 

 

 

source..
Content:

ECON DATA EXERCISE 2
Name
Course
Instructor
Date Part 1
What month (and year) is summarized? What was the unemployment rate for that month? How does that rate compare with the rate in the previous month?
The most recent unemployment rate for the month was August 2015, at 5.10%, and this was a slight drop from 5.3% reported in the previous month (Bureau of Statistics, 2015 a).
What were the unemployment rates for adult women, teenagers, blacks, Hispanics, and whites? How did these rates compare with those a month earlier?
There were differences in the unemployment rates for the different demographic groups in both July 2015 and August 2015. In August 2015 the unemployment rate for adult women above the age of 20 years was 4.7% compared to 4.9% in July. For the teenagers, it was 16.9% and 16.2% in August and July 2015 respectively. The unemployment rate for blacks increased from 9.1% in July 2015 to 9.5% in August 2015. In the case of Hispanics the unemployment rate was 6.6% in August 2015 and 6.8% in July, while that of whites also decreased from 4.6% in July to 4.4 in August. The unemployment rates for blacks and teenagers increased in August 2015 from July 2015.
Jul-15Aug-15unemployment rate 5.30%5.10% unemploymentAdult women [20 and above] 4.90%4.70%teenagers [16-19]16.20%16.90%blacks9.10%9.50%Hispanics6.80%6.60%whites4.60%4.40%
What factors make it difficult to determine the unemployment rate? 
The unemployment rate is conceptualized as the percentage of unemployed workers in the labor force (Picardo, 2009). In measuring the unemployment rate, statisticians focus on the numbers of those who are actively looking for work. However, there are no clear guidelines to determine the people who are eligible or available for work. The unemployment rate first recognizes teenagers above 16 years who are institutionalized, adults who are not working or seeking work as they do not participate in the labor force. Additionally, there are adults who are unemployed, but not actively looking for jobs. When looking at the unemployed, it is difficult to distinguish how structural and frictional unemployment affect the three groups of the unemployed people. At other times, there may be cyclical unemployment that changes with economic fluctuation. Overall, the notion that part- time workers are fully employed underestimates the level of unemployment.
Why is unemployment an economic problem?
Unemployment affects the economy since workers lose their jobs, and income. The unemployed people cannot spend because they have lower spending power. Consequently, the manufacturers experience lower sales, and workers in the manufacturing sector then lose their jobs. There is a lower aggregate demand resulting from lower consumer expenditure and lower economic growth as other workers are affected (Picardo, 2009).
What are the noneconomic effects of unemployment?
A rise in unemployment worsens despair for the poor families as parents cannot adequately meet their financial obligations. The unemployed are likely to have low self-esteem, and some engaging in criminality, illegal activities and violence as a way to put food on the table.
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