1 / 12

Chapter Eight:

Chapter Eight:. Employment and Unemployment. Paid Work and Unemployment in the United States. Figure 8.1: Who is in the Labor Force?. Are you: Under age 16? In an institution? On active duty in the military?. NOT SURVEYED BY THE BUREAU OF LABOR STATISTICS 70.7 million. A.

kalb
Download Presentation

Chapter Eight:

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Chapter Eight: Employment and Unemployment

  2. Paid Work and Unemployment in the United States

  3. Figure 8.1: Who is in the Labor Force? • Are you: • Under age 16? • In an institution? • On active duty in the military? NOT SURVEYED BY THE BUREAU OF LABOR STATISTICS 70.7 million A “Yes” to any question “No” to all questions in Box A • Did you: • Work at all last week for pay or profit? • Work 15 hours or more in a family business? B EMPLOYED 143.5 million “Yes”to either question LABOR FORCE 155.5 million “No” to both questions in Box B C UNEMPLOYED 12.0 million • Have you been actively searching for work? • Are you available to start a job? “Yes”to both questions NOT IN THE LABOR FORCE 89.3 million “No” to either question in Box C Source: BLS News Release, “The Employment Situation—February 2013,” March 8, 2013; U.S. Census Bureau Current Population Clock.

  4. Table 8.1: Unemployment Rates for Different Groups Source: BLS News Release, “The Employment Situation—February 2013,” March 8, 2013. a People are allowed to indicate more than one racial group. However, data from people who indicated more than one race are not included in these statistics.

  5. Figure 8.2: Male and Female Labor Force Participation Rates, Aged 24 to 54, 1948-2012 Men Women Sources: Mosisa, Abraham, and Steven Hipple, “Trends in Labor Force Participation in the United States,” BLS Monthly Labor Review, p. 35–57, October 2006; BLS 2013 Employment and Earnings Online, Household Survey Data, Table 3; various editions of the Statistical Abstract of the United States

  6. Unemployment

  7. Figure 8.3: The Monthly Unemployment Rate in the United States, 1969-2013 UnemploymentRate 1969-1970 1973-1975 1980 1981-1982 1990-1991 2001 2007-2009 Source: U.S. Bureau of Labor Statistics online database

  8. Figure 8.4: Average Duration of Unemployment and Unemployment Rate, 1970-2012 Unemployment Rate Average Duration of Unemployment Source: U.S. Bureau of Labor Statistics online database

  9. Theories of Employment, Unemployment, and Wages

  10. Figure 8.5a: The Classical Labor Market Model Wage Supply WE Demand Quantity of Labor LE

  11. Figure 8.5b: Unemployment in the Classical Labor Market Model Wage Labor Surplus (Unemployment) Supply W* Demand Quantity of Labor LD LS

  12. Figure 8.6: Real Nonfarm Median Wages and Labor Productivity, 1947-2012 Real Nonfarm Labor Productivity (1947=1) Real Nonfarm Hourly Wages (1947=1) Source: U.S. Bureau of Labor Statistics, Labor Productivity and Costs online database

More Related