ECON201 UMUC Unemployment Rate And The Inflation Rate Data Assignment

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Question Description

DATA EXERCISE #2

Format of the Project:

The Data Exercise must be posted to the LEO Student Assignments as a Attachments are limited to a maximum two files in doc, docx., xls. xlsx., or rtf. formats. OTHER FORMATS ARE NOT ACCEPTABLE, will not be reviewed or graded.

Please note that hand-written and scanned works, pdf. files, jpg. files, as well as files posted in google drive, will not be accepted or graded.

The paper should be written in APA style Research Paper format.

Please note that Use of APA Citation Methodology is required for all parts of the assignment

Written projects must be:

  1. typed, double-spaced, in 12-point Times New Roman or Arial font, with margins no wider than one inch
  2. have footnotes or endnotes, with correct citations
  3. have a bibliography of sources used
  4. include, for each entry, the author, title, city and state of publisher, publisher's name, year, and page numbers
  5. prepared using word processing software (Microsoft Word preferred), in a manner similar to the preparation of a written assignment for classroom submission

DATA EXERCISE #2

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.

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

  1. 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?
  1. What were the unemployment rates for adult women, teenagers, blacks, Hispanics, and whites? How did these rates compare with those a month earlier?
  2. What factors make it difficult to determine the unemployment rate?
  3. Why is unemployment an economic problem?
  4. What are the noneconomic effects of unemployment?
  5. Who loses from unemployment?
  6. Please analyze and discuss the significance of the data that you received for this Data exercise. Reflect on what you have learned from this exercise.

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:

  1. What month (and year) is summarized? What was CPIU for that month?
  2. 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?
  3. Which two categories of goods or services had the greatest price increase for the month?
  4. Which two categories of goods or services had the lowest price increase (or greatest price decrease) for the month?
  5. Who loses from inflation?
  6. Please analyze and discuss the significance of the data that you received for this Data exercise. Reflect on what you have learned from this exercise.

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

Go to https://www.govinfo.gov/app/collection/erp

the home page of the Economic Report of the President.

Click on the last available Report, scroll down, and download individual tables as Excel.

  1. 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.
  1. Present the result in your project as a table.
  2. Create one or more charts (line graph, bar graph, etc.).
  1. 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.
  1. Present the result in your project as a table.
  2. Create one or more charts (line graph, bar graph, etc.).

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:

  1. Which years had the highest and lowest unemployment rates? How do the rates compare among these groups?
  2. 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?
  3. 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?
  4. Please analyze and discuss the significance of the data that you received for this Data exercise. Reflect on what you have learned from this exercise.

Tutor Answer

CASIMIR
School: UT Austin

Here you go. In case of any further inputs, please let me know.All the best!I appreciate working with you!

Running Head: DATA EXERCISE 2

1

Data Exercise 2
Name
Course
Professor
Date

DATA EXERCISE 2

2

Data Exercise 2
Part 1: Unemployment Rate
The data that is summarized is for the year 2019 month of March. The rate of
unemployment for March was 3.8%. There was no difference in the rate from the previous
month of February as it was also 3.8% (Employment Situation Summary, 2019). The total
number of unemployed people remained at 6.2 million people. There was some notable nonfarm
payroll employment where there was an increase by 196,000. The summary also looked at the
unemployment rates of several categories of the population (Employment Situation Summary,
2019). In the month of March, teenagers had the highest unemployment rate with 12.8%. Adult
men had a rate of 3.6%, whites had a rate of 3.4%, and adult women had a rate of 3.3% while the
blacks had a rate of 6.7% (Employment Situation Summary, 2019). Hispanics had a rate of 4.7%
and the Asian population had a rate of 3.1%. Compared with the February data, there was little
changes in the rates. The table below shows the data of February and March together with the
difference.
Table 1
Group

February

March

Change

Adult Men

3.5

3.6

0.1

Teenagers

13.4

12.8

-0.6

Adult Women

3.4

3.3

-0.1

Asian

3.1

3.1

0.0

Hispanic

4.3

4.7

0.4

DATA EXERCISE 2

3

Black

7.0

6.7

-0.3

White

3.3

3.4

0.1

Besides, there was some insignificant change in the rates compared with the month of
February. On the Asian population there was no change. The teenagers, adult women and the
black population rates reduced with 0.6%, 0.1% and 0.3% respectively (Employment Situation
Summary, 2019). The white population, Hispanic population and adult men rates increased with
0.1%, 0.4% and 0.1% respectively.
Measuring the rate of unemployment may be a difficult task. The first step in determining
the rate is to determine the people who are available and eligible to work. The rate does not
account for workers who are marginally attached and those who are discouraged (Landais,
2015). They are not contained within the formal unemployment rates. The official rates do not
make a difference between the fulltime workers and the part-time workers. The rates do not look
at the quality of the jobs that the population engages in as they only take into account if the
person is employed or not (Landais, 2015). The rates do not look at whether people are
underpaid or not. Thus it means that the rates do not look at the underemployment levels of the
people.
Unemployment has many effects especially on the economy. High levels of
unemployment means that the productivity of the population is lower than the normal level. This
means that the government has to borrow more money to finance its businesses (Landais, 2015).
The reason for this is because the taxes collected are low. The purchasing power of the country
becomes low as many people are unemployed and fear losing jobs. The government has to

DATA EXERCISE 2

4

provide benefits to the population who bring ...

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Review

Anonymous
Good stuff. Would use again.

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