Which of the following statements correctly describe discouraged workers? (If none of the choices apply, leave all of the checkboxes blank.) Check all that apply.

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Which of the following statements correctly describe discouraged workers? (If none of the choices apply, leave all of the checkboxes blank.) Check all that apply.

They have not looked for a job in 4 weeks (or longer), but they would like a job and are available for work.
They are full-time workers who would like to work only part-time.
They have given up on looking for a job.
They are counted as part of the labor force by the Bureau of Labor Statistics.

The following table contains U.S. employment information from August 2018.

The Bureau of Labor Statistics has several measures of joblessness in addition to the official unemployment rate. One alternative is the U-4 measure of labor underutilization, which is calculated as follows:

Fill in the following table by calculating the official unemployment rate and the U-4 measure of labor underutilization.

The official unemployment rate and the U-4 measure of labor underutilization are two different measures of joblessness in the economy.

If the Bureau of Labor Statistics were to include discouraged workers in the official unemployment rate, the reported unemployment rate would _______

business economics

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Answer 1

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Discourage worker:

They have not looked for a job in 4 weeks (or longer), but they would like a job and are available for work.

They have given up on looking for a job.

Option a] and c] are correct.

Labor force = Employed + Unemployed = 155,604,000 + 6,197,000 = 161,801,000

Caculate the official unemployment rate -

Official unemployment rate = (Unemployed/Labor force) * 100 = (6,197,000/161,801,000) * 100 = 3.83%

Calculate the U-4 measure of Labor under-utilization -

U-4 = [(Unemployed + Discouraged)/(Labor force + Discouraged)] * 100

U-4 = [(6,197,000 + 434,000 )/( 161,801,000+ 434,000)] * 100

U-4 = (6,631,000/162,235,000) * 100

U-4 = 4.08%

Official Unemployment rate	U-4 Measure of Labor Underutilization
3.83%	4.08%

If the Bureau of Labor Statistics were to include discouraged workers in the official unemployment rate, the reported unemployment rate would increase.

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Answer 2

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Which of the following statements correctly describe discouraged workers? (If none of the choices apply, leave all of the checkboxes blank.) Check all that apply.

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