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Chapter 8: Q.17 (page 214)

Are U.S. unemployment rates typically higher, lower, or about the same as unemployment rates in other high-income countries?

Short Answer

Expert verified

Generally lower

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.2Explanation

As given in the question that as compared to other high-income countries, the unemployment rate is lower as compared to most of the countries this is because of various reasons.

One reason is the internet penetration, as the accessibility to internet is more people tends to do a part-time job and find more on internet. The other reason may be the population of the US is middle-aged and their job is stable as compared to the young generation.

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Most popular questions from this chapter

What happens to the unemployment rate when unemployed workers are reclassified as discouraged workers?

After several years of economic growth, would you expect the unemployment in an economy to be mainly cyclical or mainly due to the natural rate of unemployment? Why?

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.

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.

Whose unemployment rates are commonly higher in the U.S. economy: a. Whites or nonwhites? b. The young or the middle-aged? c. College graduates or high school graduates?
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