Which of the following statements correctly describe discouraged workers? (If no

Question

Which of the following statements correctly describe discouraged workers? (If none of the choices apply, leave all of the checkboxes blank.) Check all that apply. They have not looked for a job in 6 weeks, but they would like a job and are available for work. They are counted as part of the lab our force by the Bureau of Lab our Statistics. They are dissatisfied with their current jobs and are considering quitting. The following table contains U.S. employment information from January 2011. The Bureau of Lab our Statistics has several measures of Joblessness in addition to the official unemployment rate. One alternative is the U-4 measure of lab our underutilization, which is calculated as follows: Fill in the following table by calculating the official unemployment rate and the U-4 measure of lab our underutilization. The official unemployment rate and the U-4 measure of lab our underutilization are two different measures of joblessness in the economy. If the Bureau of Lab our Statistics were to include discouraged workers in the official unemployment rate, the reported unemployment rate would.

Explanation / Answer

1. None

2. Official Unemployment rate = Number of unemployed / Labor Force X 100

Labor force = No. of Unemployed person + Number of employed person = 13,863,000 + 139,323,000 = 153,186,000

Official unemployment rate = 13,863,000 / 153,186,000 X 100 = 0.09049 X 100 = 9.05%

U-4 Measure of Labor Underutilization = 100 X [13,863,000 + 993,000]/[(139,323,000 + 13,863,000) + 993,000]

= 100 X [14,856,000]/[153,186,000 + 993,000] =  100 X [14,856,000]/[154,179,000] = 100 X 0.096 = 9.6%

3. be less

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