Unemployment and Macro

Who gathers the data for the unemployment rate?

• US Congress

• US Bureau of Labor Statistics

• The Census Bureau

• Federal Reserve

What type of unemployment? David lost his job at Target to an self-checkout machine.

• cyclical

• frictional

• structural

• seasonal

What type of unemployment? Caroline just finished nursing school. has applied for a job at the hospital, and is awaiting a response.

• seasonal

• frictional

• structural

• cyclical

What type of unemployment is a worker experiencing when the ski slope closes in spring as temperatures warm?

• Frictional

• Seasonal

• Cyclical

• Structural

The unemployment rate is the ratio of

• unemployed to labor force

• employed to labor force

• seeking employment to labor force

• dissatisfied to labor force

What is considered a healthy unemployment rate (or full employment)?

• 0%

• 1-2%

• 4-6%

• 10-15%

Which of the following is NOT considered part of the labor force?

• Sam, 55, who is retired after teaching middle school for 30 years.

• Beth, 26, who just finished her medical degree and is looking for employment.

• Robert, 18, who lost his job when the economy entered a contraction/recession.

• Kate, 37, who was let go from her job when her company began to automate the work she was doing.

In order to be considered part of the civilian labor force, what are the two main requirements?

• Be at least 21 years old and have a history of poor job performance.

• Be at least 18 years old and have participated in high school sports.

• Be at least 16 years old and actively looking for work.

• Be at least 45 years old and have given up on finding a job.

What is the term for someone who has a part-time job but is overqualified for it and would prefer another job that is full-time and requires their skills?

• Discouraged worker

• Uninsured employee

• An overachiever

• Underemployed worker

Which type of unemployment was most commonly caused by the COVID-19 pandemic in 2020?

• Structural

• Seasonal

• Frictional

• Cyclical