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Chapter 8: Q. 18 (page 214)

Are U.S. unemployment rates distributed evenly across the population?

Short Answer

Expert verified

"No" The percent within the U. S. never falls to zero and barely gets below 3%.

Step by step solution

01

Step.1 Introduction

Unemployment can be defined as the situation when a person who is able to work and is work, is also actively looking for jobs but is not able to find one. The percentage of working population that cannot find work is known as unemployment rate.

02

Step.2 Explanation

Unemployment isn't distributed evenly they are across the U.S. population. The rateof unemployemnt can vary by gender, age, and race/ethnicity. Unemployemnt rate is higher for women, younger workers, high scoolgraduates and non-white workers.

Thepercent within the U. S. never falls to zeroand barely gets below 3%.

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Most popular questions from this chapter

While unemployment is highly negatively

correlated with the level of economic activity, in the real world it responds with a lag. In other words, firms do not immediately lay off workers in response to a sales decline. They wait a while before responding. Similarly, firms do not immediately hire workers when sales pick

up. What do you think accounts for the lag in response time?

As the baby boomer generation retires, what should happen to wages and employment? Can you show this graphically?

Over the long term, has the U.S. unemployment rate generally trended up, trended down, or remained at basically the same level?

Would you expect hidden unemployment to be higher, lower, or about the same when the unemployment rate is high, say 10%, versus low, say 4%? Explain.

What term describes the remaining level of

unemployment that occurs even when the economy is healthy?
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