Name__________________ Date due__________date turned in___________
Posted on internet Wednesday 05_02
Chapter 13: Section 1: Unemployment
Date Due: 05_03 Pgs. 331 to 337
Graphs Fig.13.1; 13.2; 13.3; 13.4; 13.5; 13.6.; 13.7 13.8. Global
nnection: pg.335 Skills for Life: page: 337 Fast Fact pg.305 and 323 Economic
ofile Oprah Winfrey pg.344; Case study pg.325:
Objectives: After studying this section you will be able to:
A. Describe frictional, seasonal, structural, and cyclical unemployment.
B. Describe how full employment is measured.
C. Explain why fool employment does not mean that every worker is
employed.
Main Idea: Even in good economic times, unemployment affects millions of
Americans. The unemployment rate provides an important clue to the health
of the entire economy.
Frictional Unemployment
1. Even in a booming economy there is___________. There are____basic kinds
of unemployment. When people a time to find a job this is called________
unemployment. When someone is looking for work they are
considered_________ unemployed.
Seasonal Unemployment
2.__________ occurs when industries slow or shut down for a season to make
seasonal shifts in their product schedules. Some summer jobs are seasonal,
such as landscaping in Strongsville.
Structural Unemployment
3.__________ unemployment occurs when workers’ skills do not match the
jobs that are available. There are_____major causes of structural
unemployment a) the development of new technology, compact discs replaced
phonograph records b) the discovery of new resources, petroleum severely
hurt the whale oil industry.c) changes in consumer demand, sneakers or
tennis shoes over traditional kinds of shoes d) globalization, automobile
jobs moving to Mexico e) lack of education, the need for specialized
education on computers and computerized machines.
Cyclical Unemployment
4. Unemployment that rises during economic downturns and falls when the
economy improves is called__________ unemployment. These jobs are lost
when there is a recession or a depression.
Measuring Employment
5. An official count of the population is called______. Each month the
department of________ polls around____thousand families this poultice
called the Current________ Survey(B L S) these numbers are used to compute
the________ rate, or the percentage of the nation’s labor________ that is
unemployed.
6. To compute the unemployment rate the number of unemployed people and
the number of_______ people are added together, this number equals the
total______ force. Then divide the number of unemployed people by the
total labor force and multiply by hundred your answer is the percentage of
people who are unemployed or the unemployment rate for that month.
7. The unemployment rate for any given month is seasonally__________. And
it is the_________ for the nation, does not reflect differences from
region to region or state to state, or city to city.
Full Employment
8. The level of employment reached when no cyclical unemployment exists is
called________--. When you are working at a job for which you are
overqualified, or working part time when you desire full-time work you are
considered to be________. People who desire a job but have given up hope
of finding a job are called_______ workers. Discouraged workers, are not
considered unemployed or are not factored into the unemployment rate
because they are not actively look for a job.