Which of the following statements correctly describe discouraged workers?(f none

Question

Which of the following statements correctly describe discouraged workers?(f none of the choices apply, leave all of the checkboxes blank.) Check all that apply They have given up on looking for a job. They have not looked for a job in 4 weeks (or longer), but they would like a job and are available for work. They are full-time workers who would like to work only part-time. They are counted as part of the labor force by the Bureau of Labor Statistics. The following table contains U.S. employment information from February 2010 Civilian Population (Persons 16 years old and over) 236,998,000 Employed Unemployed Discouraged (Persons) 138,698,000 14,860,000 (Persons) 1,204,000 (Persons) The Bureau of Labor Statistics has several measures of joblessness in addition to the official unemployment rate. One alternative is the U-4 measure of labor underutilization, which is calculated as follows: Fill in the following table by calculating the official unemployment rate and the U-4 measure of labor underutilization. U-4 Measure of Labor Underutilization Percent) Official Unemployment Rate (Percent) The official unemployment rate and the U-4 measure of labor underutilization are two different measures of joblessness in the economy. Excluding discouraged workers from the official unemployment rate may cause the official rate to underemployment. the true extent of

Explanation / Answer

option A

Discouraged workers are those who have given up looking for a job but they are willing to work.

Unemployment rate= Unemployed workers/ Total labor force*100%

= 14,860,000/236,998,000*100%

=2.05%

U-4 =Unemployed workers + discouraged workers / Total labor force+ discouraged workers *100%

= (14,860,000+1,204,000)/(236,998,000+1,204,000)*100%

=16064000/ 238202000*100

=6.74%

Ascan be inferred fromthe above calculations, excluding discouraged workers can understate the true rate of unemployment.

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