Order the answer to: “The unemployment rate also fails…
|Question||Answer the following questions:
a. For each of the five measures, calculate the rise in the unemployment rate (or, in one case, the fall in the employment rate).
b. Do any of these alternate measures indicate that the rise in the unemployment rate was larger than the official measure would indicate? Which ones?
c. Do any of these alternate measures indicate that the rise in the unemployment rate was twice as big as the official measure? (That might serve as a rough measure of whether our official measure is off by a lot.) Which ones?
d. Which of these alternate measures indicate at first glance that the labor market is actually a little better than the official measure? What is it about the denominator of this value that makes this change smaller than the rest?
(Source: Patrick McGeehan, City??s unemployment rate falls to its lowest level in 30 years, New York Times, November 17, 2006.)
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