Review each post and a minimum of 125 words is require for each. please due each on separate word document. also answer this question since it wasent answer on the first discusion, thank you
What are the current U3 an U6 unemployment rates? What is the current Labor Force Participation rate?
It is fiscal policy, not physical policy. There is a large body of economic research that concludes that tax cuts are a better and faster way to increase employment than government spending. So increasing taxes, slows job creation and economic growth. The combination of tax increases and reductions in spending would have a stronger slowing effect, than just one of the other.
Post 1
1. According to the Bureau of labor statistics (BLS), the current unemployment rate for July 2016 is 4.9%. People who are not working but actively looking for a job are counted as unemployed.
The labor force is defined simply as the people who are willing and able to work. The size of the labor force is used to determine the unemployment rate. The percentage of the unemployed in the labor force is called the unemployment rate.
Unemployment Rate = (Number of Unemployed / Labor Force) * 100
Labor Force = Number of Employed + Number of Unemployed
The labor force does not include people under the age of 16, students, retirees, the disabled, and homemakers are not counted in the labor force. The labor force is the percentage of the total population over the minimum working age is called labor force participation rate.
Labor Force Participation Rate = (Labor Force / Total Population over Age 16) * 100
"U-3 Total unemployed, as a percent of the civilian labor force (official unemployment rate)"
"U-6 Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force"
The current U3 rate is 4.5% and the current U6 rate is 10.1%
Post 2
2. There are many people that are not factored into the unemployment rate, I believe that this is a very smart and efficient way of measuring unemployment. Nonetheless, like GDP this rate is just an estimate one of the biggest factors that the government leaves out when it comes to calculating unemployment is people who gave been looking for jobs effortlessly. Despite of this, the unemployment rate is pretty close to the actual number of people unemployed in our country.
In the United States, the people that are not considered to be apart of the labor force: are the ones that are under the age of 16 due to child labor laws, the stay at home parents, the military, the retirees, the homeless, college students and the people who are not actively seeking for a job. Nonetheless, due to all these people not being apart of the labor force they do not contribute to the unemployment rate. I believe excluding these people helps our government economically for if they were considered unemployed the unemployment rate would be higher causing the government to want to create more jobs. But would run with employee deficit because you have a portion of the population that do not want to be employed at that point in time. Nonetheless, the way that our unemployment rate is found is through acquiring the number of people unemployed divided by the the number of people that are apart of the labor force times 100 so we can get the unemployment rate.