The following table contains U.S. employment information from February 2010. Civilian Population Employed Unemployed Discouraged (Persons 16 years old and over) (Persons) (Persons) (Persons) 236,998,000 138,698,000 14,860,000 1,204,000 The Bureau of Labor Statistics has several measures of joblessness in addition to the official unemployment rate. One alternative is the U-4 measure of labor underutilization, which takes into account discouraged workers and is calculated as follows: U-4U-4 = = 100×Unemployed+DiscouragedLabor Force + Discouraged100×Unemployed+DiscouragedLabor Force + Discouraged Fill in the following table by calculating the official unemployment rate and the U-4 measure of labor underutilization. Official Unemployment Rate U-4 Measure of Labor Underutilization (Percent) (Percent) The official unemployment rate and the U-4 measure of labor underutilization are two different measures of joblessness in the economy. Excluding discouraged workers from the official unemployment rate may cause the official rate to the true extent of underemployment.
The following table contains U.S. employment information from February 2010. Civilian Population Employed Unemployed Discouraged (Persons 16 years old and over) (Persons) (Persons) (Persons) 236,998,000 138,698,000 14,860,000 1,204,000 The Bureau of Labor Statistics has several measures of joblessness in addition to the official unemployment rate. One alternative is the U-4 measure of labor underutilization, which takes into account discouraged workers and is calculated as follows: U-4U-4 = = 100×Unemployed+DiscouragedLabor Force + Discouraged100×Unemployed+DiscouragedLabor Force + Discouraged Fill in the following table by calculating the official unemployment rate and the U-4 measure of labor underutilization. Official Unemployment Rate U-4 Measure of Labor Underutilization (Percent) (Percent) The official unemployment rate and the U-4 measure of labor underutilization are two different measures of joblessness in the economy. Excluding discouraged workers from the official unemployment rate may cause the official rate to the true extent of underemployment.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
The following table contains U.S. employment information from February 2010.
|
Civilian Population
|
Employed
|
Unemployed
|
Discouraged
|
|---|---|---|---|
|
(Persons 16 years old and over)
|
(Persons)
|
(Persons)
|
(Persons)
|
| 236,998,000 | 138,698,000 | 14,860,000 | 1,204,000 |
The Bureau of Labor Statistics has several measures of joblessness in addition to the official unemployment rate. One alternative is the U-4 measure of labor underutilization, which takes into account discouraged workers and is calculated as follows:
| U-4U-4 | = = | 100×Unemployed+DiscouragedLabor Force + Discouraged100×Unemployed+DiscouragedLabor Force + Discouraged |
Fill in the following table by calculating the official unemployment rate and the U-4 measure of labor underutilization.
|
Official Unemployment Rate
|
U-4 Measure of Labor Underutilization
|
|---|---|
|
(Percent)
|
(Percent)
|
The official unemployment rate and the U-4 measure of labor underutilization are two different measures of joblessness in the economy.
Excluding discouraged workers from the official unemployment rate may cause the official rate to the true extent of underemployment.
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