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Chapter 21: Q. 39 (page 525)

Under what condition would an increase in the unemployment rate be a positive sign?

Short Answer

Expert verified

An increase in the unemployment rate will be a positive sign when the discouraged workers start looking for work again.

Step by step solution

01

Step 1. Unemployment Rate.

The unemployment rate is the percentage of adults who are able to work and are willing to work, and actively looking for work but are not able to find a job.

02

Step 2. Increase in Unemployment Rate.

An increase in the unemployment rate will be a positive sign when the discouraged workers start looking for work again. Re-entering of discouraged workers is a positive sign as it shows that more jobs are available for workers.

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Most popular questions from this chapter

Assess whether the following would be counted as 鈥渦nemployed鈥� in the Current Employment Statistics survey.

a. A husband willingly stays home with children while his wife works.

b. A manufacturing worker whose factory just closed down.

c. A college student doing an unpaid summer internship.

d. A retiree.

e. Someone who has been out of work for two years but keeps looking for a job.

f. Someone who has been out of work for two months but isn鈥檛 looking for a job.

g. Someone who hates her present job and is

actively looking for another one.

h. Someone who decides to take a part-time job because she could not find a full-time position.

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?

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 鈥渘ot in the labor force?鈥� What are the proportions of employed, unemployed and not in the labor force in the population? Hint: Proportions are percentages.

How do you calculate the unemployment rate? How do you calculate the labor force participation rate?

Beginning in the 1970s and continuing for three decades, women entered the U.S. labor force in a big way. If we assume that wages are sticky in a downward direction, but that around 1970 the demand for labor equaled the supply of labor at the current wage rate, what do you imagine happened to the wage rate, employment, and unemployment as a result of increased labor force participation?

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