Each month, usually on the first Friday of the month, the Bureau of Labor Statistics releases the Employment Situation Summary for the previous month. Go to www. bls. gov and find the latest report. On the Bureau of Labor Statistics home page, at the top of the page, select the Subjects tab, find âUnemployment, and select National Unemployment Rate. Click on News Releases on the left-hand side of the page and look for the Employment Situation Summary (open the pdf version).
Answer the following questions in standard essay format (introduction with a thesis statement, body paragraphs that include data to support points made, and conclusion). Write your answers in your own words. If you use a direct quote, be sure to use quotation marks and cite your source.
1. How does the current national unemployment rate compare to the rate one month earlier? One year earlier? What changes have occurred in the economy over the past year that would have influenced the unemployment rate?
2. How would you be counted in the employment figures? Why? Be specific.
3. Research to help you determine if our economy currently includes structural, frictional, or cyclical unemployment, keeping in mind that any combination of these three types of unemployment can be present at the same time. Be sure to support your position with data. This essay should be 1 to 2 double-spaced pages typed in a 12-point font. Conduct research and reference your sources both in the text and in a properly-formatted bibliography (MLA or APA format). Be sure to review the grading criteria for further details about how this essay will be graded.
Each month, usually on the first Friday of the month, the Bureau of Labor Statistics releases the Employment Situation Summary for the previous month. Go to www. bls. gov and find the latest report. On the Bureau of Labor Statistics home page, at the top of the page, select the Subjects tab, find âUnemployment, and select National Unemployment Rate. Click on News Releases on the left-hand side of the page and look for the Employment Situation Summary (open the pdf version).
Answer the following questions in standard essay format (introduction with a thesis statement, body paragraphs that include data to support points made, and conclusion). Write your answers in your own words. If you use a direct quote, be sure to use quotation marks and cite your source.
1. How does the current national unemployment rate compare to the rate one month earlier? One year earlier? What changes have occurred in the economy over the past year that would have influenced the unemployment rate?
2. How would you be counted in the employment figures? Why? Be specific.
3. Research to help you determine if our economy currently includes structural, frictional, or cyclical unemployment, keeping in mind that any combination of these three types of unemployment can be present at the same time. Be sure to support your position with data. This essay should be 1 to 2 double-spaced pages typed in a 12-point font. Conduct research and reference your sources both in the text and in a properly-formatted bibliography (MLA or APA format). Be sure to review the grading criteria for further details about how this essay will be graded.
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At 8:30 AM, Washington DC time, on Friday, February 5, 2016, the Bureau of Labor Statistics (BLS) made the following announcement:
THE EMPLOYMENT SITUATION -- January 2016
Total nonfarm payroll employment increased by 151,000 in January, and the unemployment rate was little changed at 4.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in several industries led by retail trade, food services, and drinking places, health care, and manufacturing. Employment declined in private educational services, transportation and warehousing, and mining.
9a) How does the BLS determine the unemployment rate for January 2016?
9b) How does the BLS determine the employment rate?
Right after the BLS announced the employment level and the unemployment rate for January 2016, a bunch of Wall Street analysts offered their opinions about what Ms. Janet Yellen, the Chairman of the Federal Reserve Bank, next steps would be. The majority of the analysts stated that Ms. Yellen will keep current interest rates as they are in March 2016 and will raise rates in the third quarter of 2016. Their opinions are based on the following:
|
Unemployment Rate |
Employment Increase |
|
|
October 2015 |
5.0% |
295,000 |
|
November 2015 |
5.0% |
280,000 |
|
December 2015 |
5.0% |
262,000 |
|
January 2016 |
4.9% |
151,000 |
However, other analysts believe that Ms. Yellen will not change the current level of interest rates until the end of 2016 due to the economic slowdown and uncertainties in Europe, China, and other Asian countries.
9c) Please provide your opinions on which direction Ms. Yellen should take and why?
