Is there a time in your life when you wouldn’t be worried if you didn’t have a job? When? Why? Unemployed Worker in Boston, 1972.

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Presentation transcript:

Is there a time in your life when you wouldn’t be worried if you didn’t have a job? When? Why? Unemployed Worker in Boston, 1972

Objective: Explain the conditions necessary to be counted as unemployed and analyze the four types Guiding Question: How does the U.S. measure and deal with unemployment?

 To be considered unemployed you must be: ▪ 16 years old ▪ not working ▪ actively looking for work

 Moving places or stages in life A recent graduate looking for a job is an example of FRICTIONAL unemployment

 Change in demand or new technology Example: Banktellers who lost jobs after ATMs were invented

 Change in time of year causes job loss This Mall Santa is going to be out of a job on December 26 th !

 Downturn in the economy - recession, depression This factory was shut down in 1932 because of the Great Depression

Sorting  A.______________________ Michael Bloomberg, the Santa at Oak Court Mall, loses his job on December 26th  B.______________________ Your 13 year old cousin is looking for a babysitting job after school  C.______________________ A 22-year old is looking for a job in New York after graduating.  D.______________________ A FedEx employee loses his job due to the recession in America  E.______________________ A baker loses his job once a new bread-making machine comes out Seasonal NOT unemployed Frictional Cyclical Structural