Siteadmin, Check users, nsTeam1RO, nsTeam1RW, nsTeam1_talkRO, nsTeam1_talkRW, oversight, Administrators
30,650
edits
Changes
Jump to navigation
Jump to search
Line 2:
Line 2: − The [[U.S. Department of Labor]] publishes monthly statistics on the unemployment rate, but that measures only people who have lost their job in the last six months. Individuals who have been out of work for more than six months are not counted in this statistic, and in some fields (such as technology) the unemployment rate for persons over 45 years old can be as high as 80%.+ + +
replace false information about source of unemployment figures - we don't count claims for benefits
'''Unemployment''' is when people are unable to find jobs at the prevailing wages for their skills and experience. Economists refer to this as "involuntary unemployment."
'''Unemployment''' is when people are unable to find jobs at the prevailing wages for their skills and experience. Economists refer to this as "involuntary unemployment."
Some people think that to get figures on unemployment the Government uses the number of persons filing claims for unemployment insurance (UI) benefits under State or Federal Government programs. But some people are still jobless when their benefits run out, and many more are not eligible at all or delay or never apply for benefits. So the Government conducts a monthly sample survey called the Current Population Survey (CPS) to measure the extent of unemployment in the country. The CPS has been conducted in the United States every month since 1940 when it began as a Work Projects Administration project.
In some fields (such as technology) the unemployment rate for persons over 45 years old can be as high as 80%.
At election time, unemployment is often portrayed as a great evil, but Milton Friedman said,
At election time, unemployment is often portrayed as a great evil, but Milton Friedman said,