Основы экономики. Земскова Л.П. - 21 стр.

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statistics classify people into one of three groups: employed, unemployed,
or out of the labor force. People who are either employed or unemployed
are in the labor force.
2. Most movements in and out of the unemployment pool are brief. There is
much movement not only between employment and unemployment but also
in and out of the labor force.
3. Between 40 and 60 percent of unemployment is accounted for by people
losing their jobs. Job loss becomes more important as a source of
unemployment when the economy is in recession. About a third of
unemployment is accounted for by people becoming unemployed after being
out of the labor force. This source of flows into unemployment becomes
smaller in recessions and larger in recoveries.
4. The unemployment rate rises when flows into unemployment exceed flows
out of unemployment. The unemployment rate increases in recessions and
decreases in recoveries.
5. Okun’s law describes the relation between the unemployment rate and the
growth rate of real GNP. It takes a growth rate of real GNP of about 2.7
percent just to keep the unemployment rate constant. The unemployment rate
falls by 1 percentage point from one year to the next for every 2 percentage
points by which the GNP growth rate increases.
6. The natural rate of unemployment – or the full-employment rate of
unemployment – is currently between 5.5 and 6.5 percent. When the actual
rate of unemployment equals the natural rate, most unemployed workers can
find jobs reasonably quickly and employers can find workers at the
prevailing level of wages.
7. Although there is frequent movement of people in and out of the labor force
and between employment and unemployment, much of unemployment in the
United States at any time is accounted for by people who are unemployed for
a large part of the year.
8. Unemployment benefits typically come to somewhat less than half the after-
tax wage. Unemployment benefits are paid for only a limited period after a
person loses a job.
9. Unemployment rates for blacks are about twice or more those of whites.
Teenage unemployment rates are more that double those of older workers.
Females have about the same unemployment rates as males of the same age
and race.
10. Policies to reduce the natural rate of unemployment focus on the very high
unemployment rates among teenagers. The role of the minimum wage in
causing teenage unemployment is controversial; it should diminish as the
minimum wage falls relative to market wages. Nonetheless, evidence
suggests that the minimum wage does not raise unemployment among
teenagers, as economic theory predicts.
11. There are substantial differences in unemployment rates among different
nations. Until 1974, U.S. and Canadian unemployment rates were much
higher that those in other large industrialized countries. Since then,

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