After reading chapters 8, 9, and 10, write a 2-page paper describing how the published unemployment

Aug 23rd, 2016
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After reading chapters 8, 9, and 10, write a 2-page paper describing how the published unemployment rate is derived. What is the relationship between the labor participation rate and the unemployment rate? How can the published unemployment rate actually be misleading vis-a-vis economic conditions?

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After reading chapters 8, 9, and 10, write a 2-page paper describing how the publishedunemployment rate is derived.What is the relationship between the labor participation rate and the unemploymentrate?How can the published unemployment rate actually be misleading vis-a-vis economicconditions?The published unemployment rate is derived as a division of the number unemployedand the civilian labour force. There are various categories of persons that get included in thiscalculation. In the chapter 8, the example takes the number unemployed as 11.7 million andthe civilian labour force as 155.2 million and the division brings out the rate ofunemployment at 7.5% (Chapter 8, slide 9). The source is the Bureau of Labor statistics. Theunemployed includes the new entrants, re-entrants, lost last job, quit last job and those whowere laid off. But it doesn't include those who can work but have given up on finding asuitable job. The disabled, the voluntary retired people, the home-makers, etc are all notincluded in this calculation.The labour participation rate is percentage of Americans who are in the labor forcewhile the unemployment rate measures the percentage within the la

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