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Chapter 8: Q.3 (page 213)

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

Short Answer

Expert verified

It has remained at an identical level.

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 

The unemployment rate in the US has seen fluctuations in the short term in case of economic recessions and recovery. However, in the long term, the unemployment rate has mostly remained the same.

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Most popular questions from this chapter

What type of unemployment (cyclical, frictional,

or structural) applies to each of the following:

a. landscapers laid off in response to a drop in new housing construction during a recession.

b. coal miners laid off due to EPA regulations that shut down coal fired power

c. a financial analyst who quits his/her job in

Chicago and is pursing similar work in Arizona

d. printers laid off due to drop in demand for printed catalogues and flyers as firms go the internet to promote an advertise their products.

e. factory workers in the U.S. laid off as the plants shut down and move to Mexico and Ireland.

What criteria do the BLS use to count someone as employed? As unemployed?

What is the difference between being unemployed and being out of the labor force?

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

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

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