Format of the Project:

The paper should be written in APA style Research Paper format.

Note that Use of APA Citation Methodology is required for all parts of the assignment

Written projects must be:

  1. Typed, double-spaced, in 12-point Times New Roman or Arial font, with margins no wider than one inch
  2. Have footnotes or end notes, with correct citations
  3. Have a bibliography of sources used
  4. Include, for each entry, the author, title, city and state of publisher, publisher’s name, year, and page numbers

DATA EXERCISE  

Consists of three parts

Part 1: The Unemployment Rate

Complete the following exercise

Visit the Bureau of Labor Statistics Web Site http://www.bls.gov/news.release/empsit.toc.htm . Select Employment Situation Summary.

Write a report (1 – 2 pages double spaced) in your own words to answer the questions:

  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?
  1. What were the unemployment rates for adult women, teenagers, blacks, Hispanics, and whites? How did these rates compare with those a month earlier?
  2. What factors make it difficult to determine the unemployment rate?
  3. Why is unemployment an economic problem?
  4. What are the noneconomic effects of unemployment?
  5. Who loses from unemployment?
  6. Please analyze and discuss the significance of the data that you received for this Data exercise. Reflect on what you have learned from this exercise.

Part 2: The Inflation Rate

Visit the Bureau of Labor Statistics Web Site,

http://www.bls.gov/news.release/cpi.toc.htm . Select Consumer Price Index Summary.

Write a report (1 – 2 pages double spaced) in your own words to answer the questions:

  1. What month (and year) is summarized? What was CPIU for that month?
  2. What was the rate of inflation (percentage change in the CPIU) for the month? How does that rate of inflation 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 inflation?
  6. Who benefits from inflation?
  7. Please analyze and discuss the significance of the data that you received for this Data exercise. Reflect on what you have learned from this exercise.

Part 3: Unemployment Data by Labor Force Groups and Duration

Write a report (1 – 2 pages double-spaced) in your own words about the tables and graphs 1-3     (see below).

In this paper consider, but do not be limited to the following:

  1. Which years had the highest and lowest unemployment rates? How do the rates compare among these groups?
  2. Compare the unemployment rates by educational attainment. How do the rates compare among these groups? What relationship, if any, do you find?
  3. Compare the distribution of unemployment by duration over these years. Which years had the highest and lowest unemployment duration? What relationship, if any, do you find?
  4. Demographic studies show that the proportion of teenagers and minorities in the U.S. population is likely to increase in the near future. In your opinion, what implications, if any, will this trend have on the natural rate of unemployment?
  5. Please analyze and discuss the significance of the data that you received for this Data exercise. Reflect on what you have learned from this exercise.

 

Table 1. Civilian unemployment rate by sex and age, 2000-2018 (Unemployed as percent of civilian labor force in group specified)

Year By sex and age
Men  20 years  and  over Women   20 years  and  over Both sexes 16–19
2000 3.3 3.6 13.1
2001 4.2 4.1 14.7
2002 5.3 5.1 16.5
2003 5.6 5.1 16.5
2004 5.0 4.9 17.0
2005 4.4 4.6 16.6
2006 4.0 4.1 15.4
2007 4.1 4.0 15.7
2008 5.4 4.9 18.7
2009 9.6 7.5 24.3
2010 9.8 8.0 25.9
2011 8.7 7.9 24.4
2012 7.5 7.3 24.0
2013 7.0 6.5 22.9
2014 5.7 5.6 19.6
2015 4.9 4.8 16.9
2016 4.5 4.4 15.7
2017 4.0 4.0 14.0
2018 3.6 3.5 12.9

 

 

Table 2. Civilian unemployment rate by education attainment (25 years & over), 2000-2018 (Unemployed as percent of civilian labor force in group specified)

Year By educational attainment (25 years & over)
Less than a high school diploma High school graduates, no college Some college or associate degree Bachelor’s degree and higher 4
2000  6.3 3.4 2.7 1.7
2001 7.2 4.2 3.3 2.3
2002 8.4 5.3 4.5 2.9
2003 8.8 5.5 4.8 3.1
2004 8.5 5.0 4.2 2.7
2005 7.6 4.7 3.9 2.3
2006 6.8 4.3 3.6 2.0
2007 7.1 4.4 3.6 2.0
2008 9.0 5.7 4.6 2.6
2009 14.6 9.7 8.0 4.6
2010 14.9 10.3 8.4 4.7
2011 14.1 9.4 8.0 4.3
2012 12.4 8.3 7.1 4.0
2013 11.0 7.5 6.4 3.7
2014 9.0 6.0 5.4 3.2
2015 8.0 5.4 4.5 2.6
2016 7.4 5.2 4.1 2.5
2017 6.5 4.6 3.8 2.3
2018 5.6 4.1 3.3 2.1

 

 

Table 3. Unemployment by duration, 2000–2018 (Thousands of persons)

Year Unemployment Duration of unemployment
Less than 5 weeks 5–14 weeks 15–26 weeks 27 weeks and over Average (mean) duration (weeks) Median duration (weeks)
2000 5,692 2,558 1,815 669 649 12.6 5.9
2001 6,801 2,853 2,196 951 801 13.1 6.8
2002 8,378 2,893 2,580 1,369 1,535 16.6 9.1
2003 8,774 2,785 2,612 1,442 1,936 19.2 10.1
2004 8,149 2,696 2,382 1,293 1,779 19.6 9.8
2005 7,591 2,667 2,304 1,130 1,490 18.4 8.9
2006 7,001 2,614 2,121 1,031 1,235 16.8 8.3
2007 7,078 2,542 2,232 1,061 1,243 16.8 8.5
2008 8,924 2,932 2,804 1,427 1,761 17.9 9.4
2009 14,265 3,165 3,828 2,775 4,496 24.4 15.1
2010 14,825 2,771 3,267 2,371 6,415 33.0 21.4
2011 13,747 2,677 2,993 2,061 6,016 39.3 21.4
2012 12,506 2,644 2,866 1,859 5,136 39.4 19.3
2013 11,460 2,584 2,759 1,807 4,310 36.5 17.0
2014 9,617 2,471 2,432 1,497 3,218 33.7 14.0
2015 8,296 2,399 2,302 1,267 2,328 29.2 11.6
2016 7,751 2,362 2,226 1,158 2,005 27.5 10.6
2017 6,982 2,270 2,008 1,017 1,687 25.0 10.0
2018 6,314 2,170 1,876 917 1,350 22.7 9.3