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Assignment 1: Unemployment and the Economy
For this assignment, you should use the information in the textbook and the information found on the
official Department of Labor website,http://www.bls.gov/home.htm.
Unemployment is one of the major concerns that people have in todays economy, since losing ones
job can be one of the most devastating events a person can experience. But what do the numbers
actually mean? What is the actual state of the economy, in terms of its ability to generate jobs for its
citizens?
Questions:
1. What is the labor force participation rate? What was the labor force participation
rate in 2008? How has it changed since 2008 and what does this change imply for the
state of the economy? Does the labor force participation rate effect the
unemployment rates reported in the media?
2. How is unemployment measured and reported?
3. What is a discouraged worker? Are they included in the basic unemployment
rate? Are they included in any measure of unemployment? How has the number of
discouraged workers changed since 2008? How does the exclusion of the discouraged
worker affect the basic unemployment rate reported in the media?
4. What is frictional unemployment? What is structural unemployment? What is
cyclical unemployment? What economic policies should be used to deal with these
types of unemployment? Which type is most prevalent in todays economy?
5. Unemployment insurance is designed to help the unemployed. Do these benefits
encourage or discourage a person from looking for work? How long should these
benefits last?
6. Does the existence of unions help or hurt the overall economy and the
employment rate? Why or why not?
Deliverables:
1. Submit an 3-6 page paper in Microsoft Word format, to theW2: Assignment 1
DropboxbySaturday, February 27, 2016, addressing the above-noted items.
2. Create a Microsoft PowerPoint presentation of 5-10 slides that summarizes your
findings in your report. Post your presentation to the Assignment 1Discussion
AreabySaturday, February 27, 2016.
3. Comment on at least two other presentations and identify the strengths and
weaknesses of each.