Part 1: The Unemployment Rate

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

Please note that using the data from previously published releases and summaries will produce grade zero for this part of the project.

Write a report 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?

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 difficult to determine the unemployment rate?

4.Why is unemployment an economic problem?

5. What are the noneconomic effects of unemployment?

6. Who loses from unemployment?

7. Please analyze and discuss the significance of the data that you received for this Data exercise.

8. Reflect on what you have learned from this exercise.