Figure 7.1 Classifications in the Household Survey.

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Presentation transcript:

Figure 7.1 Classifications in the Household Survey

Table 7.1 Unemployment for Different Groups (May, 2006) Group Unemployment rate All Workers4.6 Race and ethnicity [1] [1] White4.1 Black or African American8.9 Hispanic or Latino Ethnicity5.0 Age Teenage (age 16-19)14.0 Education Less than a high school diploma 6.9 Bachelor’s degree and higher2.1 Gender Adult Male4.2 Adult Female4.1

Figure 7.2 Unemployment Over the Business Cycle, U.S

Figure 7.3 A Supply and Demand Model for Labor

Figure 7.4 Classical Unemployment

Figure 7.5 The Keynesian Model of Employment Determination

Figure 7.6 The “Natural” Rate of Unemployment

Figure 7.7 The Non-Accelerating Inflation Rate of Unemployment (NAIRU)

Figure 7.8 Empirical Data and the “Natural” Rate

Figure 7.9 Labor Force Participation Rates by Sex,