unemployment n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
Unemployment PowerPoint Presentation
Download Presentation
Unemployment

Loading in 2 Seconds...

play fullscreen
1 / 17

Unemployment - PowerPoint PPT Presentation


  • 95 Views
  • Uploaded on

Unemployment. Unemployment Rate. The Unemployment Rate = the number unemployed divided by the workforce. UNEMPLOYED / WORKFORCE. Unemployment Rate ( URate ). Workforce = 200M, 20M are unemployed, the URate = 10% 150M, 30M are unemployed, URate = _________

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Unemployment' - mura


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.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
unemployment rate
UnemploymentRate
  • The Unemployment Rate = the number unemployed divided by the workforce.

UNEMPLOYED/WORKFORCE

unemployment rate urate
UnemploymentRate (URate)
  • Workforce = 200M, 20M are unemployed, the URate = 10%
  • 150M, 30M are unemployed, URate = _________
  • 100M, 5M are unemployed, URate = __________
unemployment rate1
Unemployment Rate
  • What is acceptable?
    • Up to 6%
unemployment rate2
UnemploymentRate
  • What is acceptable?
    • Up to 6%
  • What is considered “full employment”?
    • About 4.5% URate, no cyclical unemployment, All factors of Production (LLC) in use.
employment statistics
Employment Statistics
  • Start with the total population of the US.
    • Subtract those under 16
    • Subtract those in the military
    • Subtract those “institutionalized”
employment statistics1
Employment Statistics
  • This leaves the “Non Institutional Adult” population.
    • Subtract those retired and receiving retirement funds
    • Subtract homemakers
    • Subtract full time students over 16
    • Subtract the “discouraged”
employment statistics2
Employment Statistics
  • This leaves the “Civilian Labor Force”
    • Count full time workers (40 hrs. per week)
    • Count part time workers (15-39 hrs per week)
    • Count “unpaid” family business workers (part of the family)
    • Count those on sick leave, strike, vacation
    • Subtract those looking but not finding, changing careers, etc.
types of unemployment
Types of Unemployment
  • Frictional: Someone is between jobs, about to start one-always present.
    • Example: Rene just graduated college and is looking for a job.
    • Example: Fabian just ended his tour in the military and is looking for a job as a Mercenary for the Government.
types of unemployment1
Types of Unemployment
  • Seasonal: due to climate…more prevalent in the Northern climates
    • Example: Fabiola’s job as an Ice Road Trucker closes during the summer.
    • Example: Andre’s roofing business closes for the winter.
types of unemployment2
TypesofUnemployment
  • Cyclical: results from swings in the business cycle-not present during full employment
    • Example: Jerry loses his job drawing doodles because demand for drawings is low.
    • Example: Gabby loses her job because business is too slow at Spanky McGee’s Gift Emporium.
types of unemployment3
Types of Unemployment
  • Structural: due to a change in industry, or a new technology
    • Example: David’s VCR repair shop closes.
what are the problems with unemployment figures
What are the problems with unemployment figures?

1. hidden unemployment or discouraged worker. This is the worker who is no longer looking for a job so he would not be included with the unemployment number. This worker is still a problem for the economy. We are not using this labor resource efficiently.

problems with the unemployment figures
Problems with the unemployment figures
  • under employment- worker’s skills do not match jobs. The worker is overqualified for a job or working at a job below their skills. This could be a person with a master’s degree in English who is working as a waiter. Again, we are not using this labor resource efficiently.

Causes unemployment numbers to be understated

slide17

Economic Impact of unemployment is that our standard of living goes down and the economy faces an economic slowdown.