Question

“Don’t believe those phone numbers when you hear 4.9 and 5 percent unemployment. The number’s probably 28, 29, as high as 35. In fact, I even heard recently 42 percent.”

Donald Trump, 2/9/16, in a victory speech after winning the New Hampshire primary

“There are all sorts of ways the government plays with statistics. For example, have you noticed lately the unemployment rate has gone down? You would think ‘Oh, this is a good thing. My government is telling me the unemployment rate is down.’ The government doesn’t count people that are chronically, long-term unemployed. So the number is smoke and mirrors. The number is a lie.”

Sean Hannity, Fox News, 2014

“The five-per-cent unemployment figure is one of the biggest hoaxes in American modern politics.”

Donald Trump, 8/7/16, speech to the Detroit Economic Club

The U.S. unemployment rate is a foundational economic indicator, widely cited by the media, economists, and politicians as a barometer on how the economy is performing. The rate is the product of more than a century of evolution and Democrats, Republicans, socialists, libertarians, union officials, and corporate C.E.O.s had largely agreed upon its calculation. But since the last Presidential election, this statistic has come into question as shown in the above sample quotes. Do these assertions have any merit?

I need to write

To investigate these claims, write a TYPED paper of no more than 250 words with respect to the following:

1. How is the current U.S. unemployment rate calculated?
2. What are some of the shortcomings of the unemployment rate? Do you think it does a good job of measuring the unemployment situation in the United States?
3. Review the claims made by President Trump and the news media regarding the unemployment rate. Do you feel these claims have any merit? If so, why? If not, why not?

As part of your paper, cite at least two sources you are using for your answers and opinion. Follow the following example as a guide for formatting these citations.

(More important information.https://www.cnn.com/2019/09/05/perspectives/jobs-report-statistics/index.html )

(important: Grading based on your knowledge of the calculation of the U.S. unemployment rate and ability to address the claims made by President Trump.)

please on handwriting please.

Answer 1

1. US Unemployment rate is calculated by dividing the total number of unemployed person who are willing and able to work by sum of Total unemployed and employed individuals. The unemployment rate represents the proportion of people who are willing to work but are not able to get employment for more than four weeks, in the total population.

2. Unemployment rate suffers from the following shortcomings :

a) There is no rigid separation between full time and part time wage earners.

b) Biases involved in calculation of the rate

c) Persons who are not actively seeking employment are not included in the unemployed category.

d) Low wage earners are considered employed despite of their miserably low income.

e) Those who are self employed or retired are not considered while calculating the rate.

f) Disabled persons who are willing to work are not considered while calculating the rate.

g) Persons who have been unemployed in the last 12 month but not in the last 4 weeks before the Bureau of Labour Statistics calculates the rate are not considered unemployed.

Claims made by President Trump are valid. Government tends to show low unemployment rate to show their efficiency in adminstering the economy, win elections and to build a better international image.Unofficial unemployment rate may be more than 20 % or even 30 %.