Unemployment -- Applications

Answer the following questions:

1. Visit the US Department of Labor website at stats.bls.gov/news.release/empsit.toc.htm, and look at the current employment situation summary for the latest month. Then rewrite the following paragraph.

"Employment (rose/fell/remained unchanged), and the unemployment rate edged (up/down/stayed the same) to (?) percent last month. The jobless rate had (risen/fallen/stayed unchanged) from (?) percent in (previous month) to (?) percent in (latest month). The number of payroll jobs (increased/decreased/was unchanged) by (? thousand) in the latest month with widespread (gains/losses) in the (?) sector of the economy. Average weekly hours (declined/increased/were unchanged) and average hourly earnings were (lower/higher/unchanged) over the month."

2. Log into www.whitehouse.gov/fsbr/employment.html, and click on the chart for civilian labor force (supply).
a. By how much has the labor force grown since 1989?
b. Using the same source, click on the chart for unemployment. During that same period, has the number of people unemployed increased or decreased?
c. Are the two numbers inconsistent?

3. Determine whether each of the following is counted as a member of the labor force: (a) an elementary school student who has a paper route; (b) an army captain; (c) a retired butcher; (d) an insurance salesperson; (e) a woman who has decided not to work outside her home until her children are in school; (f) a 42-year old civil engineer who looked for two years, but finally gave up searching for a job because he was discouraged with his lack of success.

4. Calculate the unemployment rate for the following problem: Berks County has 200,000 people. Of that population, 70,000 are full time housewives, students, children, retired people, or people not looking for work. Of the remaining residents, 110,000 people have jobs.