Economics

Economics (Proper English) WK 5 5.2
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WK 5 DISC 5.2

Wаtch thе fоllowing animations. To move through the animation sequence, click Next until уou reach the end of that animation sequence. These animations will prepare
уou for the discussions and other assignments in this and upcoming workshops.
https://www.econplace.com/foundations/6e/etext/ess/fig1501.html
https://www.econplace.com/foundations/6e/etext/ess/fig1502.html
https://www.econplace.com/foundations/6e/etext/ess/fig1503.html
https://www.econplace.com/foundations/6e/etext/ess/fig1504.html
https://www.econplace.com/foundations/6e/etext/ess/fig1505.html
https://www.econplace.com/foundations/6e/etext/ess/fig1506.html

• Review the information available on the following websites. You will use this information to answer the questions below:
• Overview of BLS Statistics on Unemployment: https://www.bls.gov/bls/unemployment.htm
• Unemployment, total (% of total labor force): https://data.worldbank.org/indicator/SL.UEM.TOTL.ZS
• Read the following scenario, then navigate to the threaded discussion below and respond to the questions:
Michigan Unemployment Tops 15%
The U.S. Department of Labor reported that Michigan’s unemployment rate in 2009 rose to 15.2%, becoming the first state in 25 years to suffer an unemployment rate
exceeding 15%. Michigan has been battered by the collapse of the auto and housing industries, and has had one of the highest unemployment rates in the country over
past several years.
a. Why is the reality of the unemployment problem in Michigan actually worse than the statistic of 15.2%?
b. Is the increased unemployment frictional, structural, or cyclical? Please explain your answer.

 

 

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