Tuesday, January 25, 2011

Post 22, 15 Facts

1.       Economists consider an unemployment rate of about 5 percent to represent full employment.
2.       Unemployment that occurs as a result of changes in technology or the way the economy is structured is known as structural unemployment.
3.       The data from the survey is analyzed and published by the Bureau of Labor Statistics.
4.       Anyone who is not classified as either employed or unemployed is considered not a part of the labor force.
5.       The unemployment rate is the percentage of people in the civilian labor force who are unemployed.
6.       In 2000 some 1.1 million people were marginally attached workers.
7.       Discouraged workers are a subset of marginally attached workers.
8.       Underemployment represents wasted resources and lost output.
9.       This category includes people who have decided to leave one job to look for another, as well as new entrants and re-entrants into the labor force.
10.   Regular fluctuations in jobs due to regular occurrences such as holidays, school schedules, and industry production schedules are called seasonal unemployment.
11.   Income inequality in the U.S. had become greater than in any other large industrialized country.
12.   The consumer price index measures changes in price levels.
13.   Lorenz Curve illustrates the amount that a nation's distribution of income varies from a perfectly proportional distribution of income
14.   Single-parent and single-person households tend to have lower incomes than the households of married couples.
15.   Analysts cite changes in the labor market as one cause of the income gap.

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