Unemployment rate by Peter Starke https://padlet.com/starke/unemploymentrate en-us 2017-02-06 10:05:58 UTC 2025-12-09 15:43:45 UTC hello@padlet.com https://padlet.com/starke/unemploymentrate/wish/152051985 Unemployment can be measured it either theoretical- and empirical-based measurement:
  • theoretical: Beveridge curve
  • empirical: e.g. the following data from the The Bureau of Labor Statistics (see table below)
The three different groups U-3, U5, and U-6 represent data based on different types of measuring unemployment, thus creating significant differences in the resuts.
The most commonly used is U-3. Based on the definition of The Bureau of Labour Statistics U-3, the individual is regarded unemployed if:
• the individual had no hours at all of paid work and less than 15 hours of unpaid work
during the past week, and
• the individual actively looked for work during this week, and
• the individual would accept a job if offered.
It excludes those who have stopped looking for a job.
U-5 adda workers who are not currently seeking for a job
U-6 adds workers who are involuntarily working as part-time workers
]]> 2017-02-07 08:12:47 UTC https://padlet.com/starke/unemploymentrate/wish/152051985 https://padlet.com/starke/unemploymentrate/wish/152052084
]]> 2017-02-07 08:13:15 UTC https://padlet.com/starke/unemploymentrate/wish/152052084 Raw data can be found: https://padlet.com/starke/unemploymentrate/wish/152052271
  • The Bureau of Labor Statistics
  • The German Socio-Economic Panel (GSOEP)
    • An interdisciplinary longitudinal study of private households for the representative analysis and interpretation of social and economic behavior in the Federal Republic of Germany.
  • Current Population Survey (CPS)
  • National Compensation Survey (NCS)
  • An establishment is selected
  • A Field Economist contacts the establishment to collect the data
  • Job listing with wage data
  • Specific job characteristics and work schedules
  • Benefit details
  • Summary plan descriptions
  • The Field Economist asks clarifying questions
  • The Field Economist updates the data

    • ]]>     2017-02-07 08:14:09 UTC https://padlet.com/starke/unemploymentrate/wish/152052271     What is it good for? https://padlet.com/starke/unemploymentrate/wish/152052402 Estimating the amount of people who are unemployed. This helps the state estimate what kind of policies to implement and how to address the problem of unemployment.


    ]]>     2017-02-07 08:14:48 UTC https://padlet.com/starke/unemploymentrate/wish/152052402     Possible problems https://padlet.com/starke/unemploymentrate/wish/152052807 The differences in how data is collected influences the outcome greatly (for example the question of should we also include people who are not currently looking for a job and those who are involuntarily working part-time).]]> 2017-02-07 08:17:03 UTC https://padlet.com/starke/unemploymentrate/wish/152052807