How does the unemployment rate differ from the underemployment rate? Why is it important to take both of these rates into account when evaluating the economy?

What will be an ideal response?


An ideal response will:
1, Define both terms: The unemployment rate, as measured by the Bureau of Labor Statistics (BLS), is the proportion of the labor force actively seeking work but unable to find jobs. The underemployment rate is a statistic that includes (1) people who aren't working and are actively seeking a job, (2) those who would like to work but have given up looking, and (3) those who are working part-time because they cannot find a full-time position.
2, Assess the importance of both concepts with regard to the economy. Note that the official unemployment rate reported monthly by the BLS actually underestimates how many Americans are suffering in the job market, because it leaves out those who have given up their job search or have only been able to obtain a part-time job.

Political Science

You might also like to view...

One of the Learning Outcomes in the executive branch chapter is to explain the major ______ and ______ of the governor

Fill in the blank(s) with correct word

Political Science

To properly assess the Texas legislature in action, which question should be asked? a. Did the legislature deal with major issues facing the state or mainly with trivial issues?

b. Did the appropriations bill reflect genuine statewide concerns or only the interests of the large lobbies? c. Was the effect of current legislation on future social, economic, and physical resources considered, or did the legislature live for today? d. Were basic tests of democracy, representation, transparency, and fairness met? e. All of these questions should be asked.

Political Science

What are the differences between realist (including neorealist) and liberal scholars of international relations and foreign policy? Discuss the different assumptions and units of analysis for each theory. Which theory better explains the current U.S. foreign policy environment?

What will be an ideal response?

Political Science

Why would Democrats be more likely to favor voter registration at welfare offices?

a. They care more about the democratic process than Republicans. b. They know that lower-income Americans are more likely to identify as Democrats. c. They want to ensure that all voters are American citizens. d. They want to minimize the voter fraud that is rampant among welfare recipients.

Political Science