The Unemployment Rate: What implications, if any, will this trend have on the natural rate of unemployment

The Unemployment Rate

Consists of three parts

Part 1: The Unemployment Rate (weight 30% of the assignment grade)

Complete the following exercise

Visit the Bureau of Labor Statistics Web Site, www.bls.gov/news.release/empsit.toc.htm http://www.bls.gov/news.release/empsit.toc.htm

Select Employment Situation Summary https://www.bls.gov/news.release/empsit.nr0.htm

Write a report (1 – 2 pages double-spaced) to answer the questions:

What month (and year) is summarized? What was the unemployment rate for that month? How does that rate compare with the rate in the previous month?

What were the unemployment rates for adult women, teenagers, blacks, Hispanics, and whites? How did these rates compare with those a month earlier?

What factors make it difficult to determine the unemployment rate?

Why is unemployment an economic problem?

What are the noneconomic effects of unemployment?

Who loses from unemployment?

Part 2: The Inflation Rate (weight 30% of the assignment grade)

Complete the following exercise:

Visit the Bureau of Labor Statistics Web Site,

www.bls.gov/news.release/cpi.toc.htm (http://www.bls.gov/news.release/cpi.toc.htm). Select Consumer Price Index Summary.

Write a report (1 – 2 pages double-spaced) to answer the questions:

What month (and year) is summarized? What was CPIU for that month?

What was the rate of inflation (percentage change in the CPIU) for the month? How does that rate of inflation compare with the rate in the previous month?

Which two categories of goods or services had the greatest price increase for the month?

Which two categories of goods or services had the lowest price increase (or greatest price decrease) for the month?

Who loses from inflation?

Part 3: Unemployment Data by Labor Force Groups and Duration (40% of the project grade)

Go to HYPERLINK “https://www.gpo.gov/fdsys/browse/collection.action?collectionCode=ERP&browsePath=2017&isCollapsed=false&leafLevelBrowse=false&isDocumentResults=true&ycord=0″https://www.gpo.gov/fdsys/browse/collection.action?collectionCode=ERP&browsePath=2017&isCollapsed=false&leafLevelBrowse=false&isDocumentResults=true&ycord=0

the home page of the Economic Report of the President.

Click on the link to download individual tables as Excel

This link is located below Appendix B: Statistical Tables Relating to Income, Employment, and Production.

Find unemployment data (Table B–12.—Civilian unemployment rate) for each year 2000 to present. Use four labor force groups: males, and females, in each case 16 to 19 years of age, versus 20 years of age or over.

Present the result in your project as a table.

Create one or more charts.

Use the Economic Report of the President (Table B–13.—Unemployment by duration and reason) to find data on the duration of unemployment for each year 2000 to present.

Present the result in your project as a table.

Create one or more charts.

Write a report (1 – 2 pages double-spaced) about the results you received.

In this paper consider, but do not be limited to the following:

Which years had the highest and lowest unemployment rates? How do the rates compare among these groups?

Compare the distribution of unemployment by duration over these years. Which years had the highest and lowest unemployment duration? What relationship, if any, do you find?

Demographic studies show that the proportion of teenagers and minorities in the U.S. population is likely to increase in the near future. In your opinion, what implications, if any, will this trend have on the natural rate of unemployment. Please reflect on what you have learned from this assignment.

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