In the research paper “Labor Force from the Household Survey,” the author answers the question: what was the official unemployment rate reported for January 2013 and the total number of unemployed workers and what was the labor force participation rate…
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U6 reflects the rate that includes persons marginally attached to the labor force and those who are employed part-time for economic reasons in generating the unemployment rate. Discouraged workers form part of the marginally attached workers.
According to the authors, the main reason for the continuing stagnant growth of the U.S. economy lies in the “ongoing and scarcely improving shortfall in aggregate demand relative to the supply of productive resources”. (Bivens, Fieldhouse & Shierholz 2013) Consumption of produced goods and services have decreased since the onset of the ‘Great Recession’ in 2008.
2. The authors discuss the issue of the relationship between strong GDP growth and a strong recovery. What does their argument suggest about the relationship between strong GDP growth, the deficit and reducing unemployment?
The authors’ argument suggests that budget deficit reduction results to decelerated GDP, which, in turn, translates to higher unemployment and underemployment rates. The austerity measures implemented to reduce budget deficits lead to less economic activities, fewer jobs, less production of goods and services, less demand from the consumers, and, ultimately to a lower GDP. Lower GDP requires less labor. More and more plants and factories will operate below their full capacity and will lay off more workers to cut costs and survive the economically difficult times.
According to the authors, achieving full employment will bring in economic recovery. Full employment can be attained by boosting the consumers’ demand for goods and services produced by the country as the initial step toward narrowing the output gap – the difference between what the economy can produce and its actual output.
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(Labor Force from the Household Survey Essay Example | Topics and Well Written Essays - 500 Words)
“Labor Force from the Household Survey Essay Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/macro-microeconomics/1617766-see-documnets-attached.
According to the paper, labor force is defined as all the nonmilitary people who are employed and unemployed Labor force of a country usually includes everyone who is of working age (typically above 14 to 16 years) and below the age of retirement. Labor force includes participating workers which includes people who are actively working.
The author focuses our attention on the effect of formal education on both fertility and labour force participation. It further accounts for the probable endogeneity of education. Women of today, particularly those in developed countries are now heading on the frontline; highly responsible leaders and managers in almost every industry.
The article goes on to say that Hani Obaid Al Halyan is a maintenance worker for the Public Parks and Horticulture Department and lives with his family, which includes his mother and grandmother, in a small, one-bedroom space with a rent of Dh1000 a month. He is the sole provider and is concerned about the failing health of his mother.
As one of the main factors of production, labor affects business entities in terms of wage levels. In various countries, the government mandates a minimum wage level which sets the floor price corresponding to the salary due to regular employees. With this, the labor market affects businesses in terms of the wages that employers have to pay.
Blacks used to be the biggest minority in the US historically until Latinos surpassed them. The total US Latino population is approximately 15.5% (Census, 2010). One of the stereotypes about Blacks is that they are gangsters and criminals. This
The author states that there has been a vast range of reasons that have led to the increase in women’s labor force participation. For instance, the rise and improvement of technology in the information era resulting into less time required for household chores, and changes in social and political attitudes among others.
Women empowerment advocacy has been increased in the USA, thus, their participation has also increased. Back in 1980`s not many women were attaining a higher education, which reflects their lower participation rate. As compared to women, men were being considered as the sole earners due to which their focus on education was higher.
This paper examines the result of changes in the labor force on the employment rate.
The recent census in the US indicate that there are very few numbers of prime working age workers, that is workers in the age
The measure of unemployment is the unemployment rate. Unemployment rate is the number of unemployed people divided by the number of persons in the labor force (Toossi). Keynesian economists argue that the existence of unemployment is
They were never involved with tasks that could make them be on the same level with men.
After the Second World War, women participation in the labor force activities started to rise. Immediately after the war, women
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