Question #1 Identify at least three limitations of GDP Question #2 (Full Questio

Question

Question #1 Identify at least three limitations of GDP

Question #2 (Full Questions) Go to the Bureau of Labor Statistics website, www.bls.gov/news.release/empsit.toc.htm, and click on "Employment Situation Summary" to get the most up-to-date summary of unemployment in the U.S. or the "Employment Situation Summary Table A. Household data, seasonally adjusted." What interests or surprises you about the summary table? How does that rate compare with the rate in the previous month or quarter? Discuss the differences in unemployment rates by gender, age, education, etc.

Explanation / Answer

Some of the surprising features of the summary table are that the unemployment rates for women are lower than for men, however, the unemployment rates for women are relatively stable, while the rate for men has been improving. Also interesting is how much higher the rate is for African Americans than other races. The overall unemployment rate has decreased by only .1 in the last month, but is down by .7 since this time last year. The unemployment rate for teenagers has greatly decreased in the last month, and over the last year compared to the adults over 20 group. Further while unemployment rates are decreasing for those with only a high school degree or some college, the unemployment rate for those with a bachelor's degree or high has actually increased in the last month.

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