Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Find unemployment data (Table B-27.Civilian unemployment rate) for each year 2000 to present. Use three labor force groups: men 20 years and over, women 20

  1. Find unemployment data (Table B-27.Civilian unemployment rate) for each year 2000 to present. Use three labor force groups: men 20 years and over, women 20 years and over, both sexes 16 to 19 years of age.
  2. Present the result in your project as a table.
Year/Age Men 20 & Above Woman 20 & Above 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 17.5
2004 5 4.9 7
2005 4.4 4.6 16.6
2006 4 4.1 15.4
2007 4.1 4 15.7
2008 5.4 4.9 18.7
2009 9.6 7.5 24.3
2010 9.8 8 25.9
2011 8.7 7.9 24.4
2012 7.5 7.3 24
2013 7 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 4 14
2018 3.6 3.5 12.9
2019 3.4 3.3 12.7
2020 7.4 8 17.9
2021 5.2 5 11.7

  1. Find unemployment data (Table B-27.Civilian unemployment rate) for each year 2000 to present by educational attainment(25 years and over). Use the following groups: less than an high school diploma; high school graduates, no college; some college or associate degree; bachelor's degree and higher.
  2. Present the result in your project as a table.
Year/Age less than a high school diploma high school graduates, no college some college or associates degree bachelor's degree and higher
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 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 7.5 6.4 3.7
2014 9 6.0 5.4 3.2
2015 8 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
2019 5.4 3.7 3.0 2.1
2020 11.7 9.0 7.8 4.8
2021 8.3 6.2 5.1 3.1

  1. Use the Economic Report of the President (Table B-28.Unemployment by duration and reason) to find data on the duration of unemployment for each year 2000 to present.
  2. Present the result in your project as a table.
Year/Age Unemployment Less than 5 weeks 5-14 weeks 15-26 weeks 27 weeks and over Average (mean) duration (weeks) 2 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
2019 6,001 2,086 1,789 860 1,266 21.6 9.1
2020 12,947 3,708 4,728 2,516 1,995 16.5 9.7
2021 8,623 2,140 1,981 1,164 3,337 28.7 16.5

  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 unemployment rate?
  5. Please analyze and discuss the significance of the data that you received for this Data exercise.
  6. Reflect on what you have learned from this exercise.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting

Authors: Charles T. Horngren, Walter T. Harrison Jr., M. Suzanne Oliv

9th Edition

130898414, 9780132997379, 978-0130898418, 132997371, 978-0132569309

Students also viewed these Economics questions

Question

Give an example of misappropriation of personality?

Answered: 1 week ago

Question

Define failure. (p. 273)

Answered: 1 week ago