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Part 1: The Unemployment Rate (weight 30% of the assignment grade)Complete the following exerciseVisit the Bureau of Labor Sta±s±cs Web Site,www.bls.gov/news.release/empsit.toc.htm . Select Employment Situa±on Summary.Write a report (1-2 pages double – spaced) to answer the ques±ons:1.What month (and year) is summarized? What was the unemployment rate for that month? How does that rate compare with the rate in the previous month?2.What were the unemployment rates for adult women, teenagers, blacks, Hispanics, and whites? How did these rates compare with those a month earlier?3.What factors make it diFcult to determine the unemployment rate? 4.Why is unemployment an economic problem?5.What are the noneconomic e²ects of unemployment?6.Who loses from unemployment? Part 2: The In³a±on Rate (weight 30% of the assignment grade)Complete the following exercise:Visit the Bureau of Labor Sta±s±cs Web Site,www.bls.gov/news.release/cpi.toc.htm . Select Consumer Price Index Summary.Write a report (1-2 pages double – spaced) to answer the ques±ons:1.What month (and year) is summarized? What was CPI-U for that month?2.What was the rate of in³a±on (percentage change in the CPI-U) for the month? How does that rate of in³a±on compare with the rate in the previous month?3.Which two categories of goods or services had the greatest price increase for the month?4.Which two categories of goods or services had the lowest price increase (or greatest price decrease) for the month?5.Who loses from in³a±on?
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Part 3: Unemployment Data by Labor Force Groups and DuraTon (40% of the project grade)Go to h±ps://www.whitehouse.gov/administraTon/eop/cea/economic-report-of-the-President/2015- the home page of the Economic Report of the President.Scroll down and Click on the link download individual tables as Excel²his link is located below Appendix B: StaTsTcal ²ables RelaTng to Income, Employment, and ProducTon.12.Find unemployment data (²able B–12.—Civilian unemployment rate) for the following four years 1995, 2000, 2005, and the last available year. Use four labor force groups: males, and females, in each case 16 to 19 years of age, versus 20 years of age or over. Present the result in your project as a table.13.Use the Economic Report of the President (²able B–13.—Unemployment by duraTon and reason) to ³nd data on the duraTon of unemployment in 1995, 2000, 2005, and the last available year. Present the result in your project as a table.Write a report (1-2 pages double-spaced) about the results you received.In this paper consider, but do not be limited to the following:•Compare the distribuTon of unemployment by duraTon over these years. What relaTonship, if any, do you ³nd?•StarTng in the early 1990s many U.S. ³rms downsized their operaTons. In your opinion, how did this a´ect the duraTon of unemployment?•Demographic studies show that the proporTon of teenagers and minoriTes in the U.S. populaTon is likely to increase in the near future. In your opinion, what implicaTons, if any, will this trend have on the naturalrate of unemployment?
