ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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2. Discouraged workers
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 are counted as part of the labor force by the Bureau of Labor Statistics.
They are employed workers who want to earn higher wages.
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.
The following table contains U.S. employment information from August 2018.
Civilian Population
Employed
Unemployed
Discouraged
(Persons 16 years old and over)
(Persons)
(Persons)
(Persons)
258,066,000
155,604,000
6,197,000
434,000
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:
Unemployed+Discouraged
Labor Force + Discouraged
U-4 =
100 x
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Transcribed Image Text:2. Discouraged workers 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 are counted as part of the labor force by the Bureau of Labor Statistics. They are employed workers who want to earn higher wages. 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. The following table contains U.S. employment information from August 2018. Civilian Population Employed Unemployed Discouraged (Persons 16 years old and over) (Persons) (Persons) (Persons) 258,066,000 155,604,000 6,197,000 434,000 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: Unemployed+Discouraged Labor Force + Discouraged U-4 = 100 x
Fill in the following table by calculating the official unemployment rate and the U-4 measure of labor underutilization.
Official Unemployment Rate
U-4 Measure of Labor Underutilization
(Percent)
(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
the true extent of
underemployment.
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Transcribed Image Text:Fill in the following table by calculating the official unemployment rate and the U-4 measure of labor underutilization. Official Unemployment Rate U-4 Measure of Labor Underutilization (Percent) (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 the true extent of underemployment.
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