Oct 26, 2009 Unemployment A. Definition and Measurement B. Trends C. Causes D. Policies Cool graphic...
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Transcript of Oct 26, 2009 Unemployment A. Definition and Measurement B. Trends C. Causes D. Policies Cool graphic...
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Oct 26, 2009
UnemploymentA. Definition and MeasurementB. TrendsC. CausesD. Policies
Cool graphic here: http://www.mitacstrends.com/employment.html
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Payroll Employment 1940-2009
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How to Calculate Unemployment RateAsk 60,000
households: Are you
working?
You are employed
and in labor force
Have you looked for
work in past 4 weeks?
You are unemployed and in labor
forceYou are not in
labor force and are not unemployed
Yes No
Yes
No
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September 2009 Employment and Unemployment
Labor Force 154.0 million Employed People 138.9 million Unemployed People 15.1 million 15.1/(138.9+15.1)=15.1/(154) =
9.8%
Source: http://www.bls.gov/news.release/empsit.nr0.htm
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Sept 09 Selected Unemployment Rates
All 9.8% Adult Men 10.3% Adult Women 7.8% Black Male Teens 16-19 50.4% White Male Teens 16-10 26.6%
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Education, Unemployment, and Earnings
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Unemployment Rate 1948-2009
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Recent Unemployment Trends
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In a Recession, Unemployment is Longer
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Payroll Employment 1940-2009
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2006 2007 2008 2009-800
-600
-400
-200
0
200
400
Change in Payroll Em-ployment
10
00
s
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Participation Rate Rose 1965-2009
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Union Membership
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