1. Unemployment What I need to know: What is unemployment?
When unemployment RISES ---> the economy becomes less stable (vice versa)
How to calculate unemployment
Spending is key!!!

2. Why Unemployment Matters

3. Why Unemployment Matters

4. Unemployment Unemployed: Unemployment Rate
Doesn’t have a job, but wants a job
Unemployment Rate
# Unemployed ÷ # Labor Force
Percentage of people not working
Tool for measuring our economy

5. = 4,000,000 people
300,000,000 people in the USA

6. 240 million = old enough to work

7. 150 million = looking for work

8. 12 million = looking, but can’t find work

9. 12 million = looking, but can’t find work
Unemployment Rate
# Unemployed ÷ # Labor Force
12,000,000 ÷ 150,000,000
.08 or 8% unemployment rate
12 million = looking, but can’t find work

15. Economic Measurements
Gross Domestic Product (GDP)
Unemployment Rate
Tools for measure the HEALTH of an economy
Is the economy stable?
Is your money safe?

16. Types of Unemployment Structural Frictional Cyclical
Changes in Technology
Changes in Tastes
Frictional
Graduation
After raising kids
Changing careers
Quitting/fired
Moving
Cyclical
recessions

17. Make inferences

18. Make inferences

20. Using Economic Tools Someday you will need to find a job Objective:
You may need to move
Where?
A state with opportunity, growth, and that is stable
Use GDP and Unemployment numbers
Objective:
List the Top 5 states for GDP, GDP per capita, and lowest unemployment rate for 2012
List the Top 5 states for GDP, GDP per capita, and lowest unemployment rate for 2003
Based on the data, infer which state is the most likely to be on this list in Defend your answer.
List the bottom 5 states for GDP, GDP per capita, and Highest unemployment rate for 2003