The number of people classified by the BLS as unemployed and the number receiving unemployment insurance benefits are not necessarily the same, as we saw in the 3-17 quiz. Starting from the beginning of the year 2020, before the pandemic, to the end of 2020, what happened to this ratio: number receiving unemployment insurance/number unemployed?
The number of people classified by the BLS as unemployed and the number receiving unemployment insurance benefits are not necessarily the same, as we saw in the 3-17 quiz. Starting from the beginning of the year 2020, before the pandemic, to the end of 2020, what happened to this ratio: number receiving unemployment insurance/number unemployed?
Chapter17: Income, Poverty, And Health Care
Section: Chapter Questions
Problem 1P
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![The number of people classified by the BLS as
unemployed and the number receiving
unemployment insurance benefits are not
necessarily the same, as we saw in the 3-17
quiz. Starting from the beginning of the year
2020, before the pandemic, to the end of
2020, what happened to this ratio: number
receiving unemployment insurance/number
unemployed?
The ratio quickly increased to about 1 when
the CARES Act took effect, and then fell below
1 later in the year.
The numerator and denominator both
increased during the year, but the ratio stayed
approximately constant throughout the year.
The ratio fell when unemployment was high
in April and May, because a large share of the
newly unemployed were not eligible for
benefits.
The ratio gradually increased, and was at its
highest at the end of 2020.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F25b899e5-ed0e-4784-b1c2-23d5e1cd50b7%2F888c1022-6aef-4a10-8d8c-a1a4e0b60bb5%2Fi7pt848_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The number of people classified by the BLS as
unemployed and the number receiving
unemployment insurance benefits are not
necessarily the same, as we saw in the 3-17
quiz. Starting from the beginning of the year
2020, before the pandemic, to the end of
2020, what happened to this ratio: number
receiving unemployment insurance/number
unemployed?
The ratio quickly increased to about 1 when
the CARES Act took effect, and then fell below
1 later in the year.
The numerator and denominator both
increased during the year, but the ratio stayed
approximately constant throughout the year.
The ratio fell when unemployment was high
in April and May, because a large share of the
newly unemployed were not eligible for
benefits.
The ratio gradually increased, and was at its
highest at the end of 2020.
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