Question

After reviewing the resources provided for you in this module, research and report on the current rate of unemployment in your city and state and compare those rates to the national rate. With that information, write a two- to three-page paper and answer the following questions :

• What do the rates tell you?
• What are the different measurements of unemployment and what factors affect them?
• If you have ever been unemployed, or know someone who has been unemployed, which measurement would be used to report that unemployed example?
• Do the rates you reported take into account the different measures of unemployment? Why or why not?
• Why are there different measures of unemployment? What do these different measures tell you?
• What is the “natural rate” of unemployment? Is it possible to have 100% employment? Why not?
• Is there any benefit of having different types of measures of unemployment? If so, what is the benefit? If not, why not?

Answer 1

Taking city Kolkata, unemployment rate here,in the month of May is 17.3% as compared to national level is 23.5%.
The different measurements of unemployment worlwide basis are:
1) The Labour Force sample survey
2) official estimation
3) social Insurance statistical methods
4)statistics of employment office.
The factors affecting the measurement of employment are:
1)The rate of unemployment along with the current workforce employed.
2) Different races of communities and gender of human.
3)count of persons who are getting benefits of unemployment.
4) Self employment person or prisoners as workers etc.
Survey by Labour force sample method would be used to report the unemployment example if myself would have been unemployed anytime.
Yes,the reported rates of kolkata and national level,take into consideration the different methods of measuring unemployment.
There are different methods of measuring unemployment in order to determine the accurate count of unemployed individuals and the specific reason linked to it.Also there are individuals who are employed but do not reveal it,in order to receive the benifit of unemployment.Also there are workers who are willing to work but not getting any due to lack of jobs.
Combination of both frictional and structural employment which exists in an expanded amd efficient country economy,where markets of resources and labour stays in equilibrium is known as natural rate of unemployment.
Different types of measuring unemployment helps to get more accurate number of unemployment people.socially inequality can be reduced and economic growth in a long run can be helped.