ECON103 Lecture Notes - Lecture 6: Frictional Unemployment, Structural Unemployment, Unemployment

• School: University of Delaware
• Department: Economics
• Course: ECON103
• Professor: Schubert, Jens

Document Summary

9. 1 measuring the unemployment rate, the labor force participation rate, and the employment-population ratio. 9. 5 using price indexes to adjust for the effects of inflation. 9. 6 nominal interest rates versus real interest rates. 9. 7 does inflation impose costs on the economy. 9. 1 measuring the unemployment rate, the labor force participation. Each month, the bls report estimates of employment, unemployment, and other statistics related to the labor force. There are more than 300m people in the us regular monitoring and reporting of their employment activities would be very difficult and costly. Current population survey (hh survey: each month, the us bureau of the census conducts the current. Hh (cid:373)e(cid:373)(cid:271)ers report their e(cid:373)ploy(cid:373)e(cid:374)t duri(cid:374)g (cid:862)refere(cid:374)(cid:272)e (cid:449)eek(cid:863) Hh members report their recent job search activities. Classification in hh survey: people are classified as: Employed: if working 1+ hours in reference week (or were temporarily away from their jobs)