U.S. Unemployment Rate

1. Chart #1: U.S. Unemployment Rate FRED - Unemployment Rate 11 10 9 00 Percent 6 Mar 2020: 4.4 3 2 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 Shaded areas indicate U.S. recessions Source: U.S. Bureau of Labor Statistics fred.stlouisfed.org The unemployment rate represents the number of unemployed as a percentage of the labor force. Labor force data are restricted to people 16 years of age and older, who currently reside in 1 of the 50 states or the District of Columbia, who do not reside in institutions (e.g., penal and mental facilities, homes for the aged), and who are not on active duty in the Armed Forces. Link to this data: https://fred.stlouisfed.org/series/UNRATE Chart #2: U.S. Total Unemployed FRED. - Total Unemployed, Plus All Persons Marginally Attached to the Labor Force, Plus Total Employed Part Time for Economic Reasons, as a Percent of the Civilian Labor Force Plus All Persons Marginally Attached to the Labor Force (U-6) 17.5 15.0 12. Percent 10. Mar 2020: 8.7 7.515.0 115 E E 10.0 7.5 5-\" I i i i I i 15\" 1!!! MD 2111 2cm 1\" 1M 2010 2012 101' 2015 201! 2112:! Smart areas Indicate U.S. recessions Source: U.5. Emu of Ldmr Statlsts heisdutisfedorg U.S. Bureau of Labor Statistics, Total Unemployed, Plus All Persons Marginally Attached to the Labor Force, Plus Total Employed Part Time for Economic Reasons, as a Percent of the Civilian Labor Force Plus All Persons Marginally Attached to the Labor Force (U-6) W, retrieved from FRED, Federal Reserve Bank of St. Louis; https:/,ffred.stlouisfed.org/series/U6RATE. April 21, 2020. Link to this data: WW 1. How does the official U.S. unemployment rate (chart 1) compare to the total number of unemployed in the U5. (chart 2)? Explain what accounts for this difference. 0 (Click into the links to review these numbers more closely)