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SKILL-BUILDER:

SKILL-BUILDER:. Yesterday we learned about the protestors in New York who are demanding more job opportunities. In your opinion, what needs to happen to make sure every American can get a good job?.

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SKILL-BUILDER:

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  1. SKILL-BUILDER: Yesterday we learned about the protestors in New York who are demanding more job opportunities. In your opinion, what needs to happen to make sure every American can get a good job?

  2. Objective: Calculate unemployment rates and unemployment populations (with and without calculators!) Guiding Question: How do economists determine the number of people who are unemployed in the U.S.? 3.2b: Unemployment Rates

  3. Unemployment Rate The unemployment rate is the percentage of the workforce that is above sixteen years of age, out of work, and actively looking for a job. Famous Photograph from the Great Depression

  4. Calculating Unemployment Rates I can calculate the unemployment rate with these steps: Divide the number of unemployed people by the total population. Then, multiply that number by 100. The Formula is: (# unemployed people / total population) x 100

  5. Unemployment Rates: Example One There are one million people (1,000,000) living in Fairfax County, Virginia and 90,000 of them are unemployed. What is the unemployment rate in Fairfax? 90,000/1,000,000 = (.09) x 100 = 9% Unemployment Rate

  6. Unemployment Rates: No Calculator! Cancel out the same number of zeroes from each side Potomac is a city of 50,000 with 2,000 unemployed people. What is their unemployment rate? Unemployment rate = 2,000 / 50,000 = 2 / 50 = (.04)x100 Potomac’s Unemployment Rate = 4%

  7. Unemployment Rates: Backwards If the unemployment rate is 11% in Detroit, Michigan and there are 700,000 people living there, then how many people are unemployed? Plug the information you have into the equation. (x/700,000)100 = 11% (x/700,000) = 11/100 x/700,000 = .11 x = (.11) 700,000 x= 77,000 There are 77,000 unemployed people in Detroit

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