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Bell Ringer:

Bell Ringer:. Define the following terms from page 382: (Write these in your notes; 7 terms- 7 minutes) Unemployment Rate Underemployment Full Employment Frictional Unemployment Seasonal Unemployment Cyclical Unemployment Structural Unemployment. Unemployment.

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Bell Ringer:

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  1. Bell Ringer: Define the following terms from page 382: (Write these in your notes; 7 terms- 7 minutes) Unemployment Rate Underemployment Full Employment Frictional Unemployment Seasonal Unemployment Cyclical Unemployment Structural Unemployment Helf

  2. Unemployment In this lesson, students will be able to describe how the government measures unemployment and different types of unemployment Unemployment Rate Underemployment Full Employment Types: Frictional Seasonal Cyclical Structural Helf

  3. Unemployment Rate • PERCENTAGE OF LABOR FORCE THAT IS JOBLESS AND ACTIVELY SEEKING WORK. • Over 16, have looked for work in last 4 weeks • How accurate is this measure? • Who would not be included? Helf

  4. Unemployment Rate • Who would not be included? • Underemployed- wanting more hours/better job • DISCOURAGED WORKERS- THOSE THAT HAVE STOPPED LOOKING • PEOPLE WORKING OFF THE BOOKS: • (Examples?) Helf

  5. Is 0% unemployment possible? • Full employment: No unemployment caused by decrease in economic activity • People willingly changing jobs • Moving/Between jobs • Your skills don’t match those needed • Economist say 4%-6% in US= Full Employment Helf

  6. Four Types of Unemployment • Frictional- Caused by people changing jobs • Seasonal- Certain jobs based on seasons • (Examples?) • Structural- Changes in skills required • (Examples?) • Cyclical- Caused by business slow down; • Leads to a decrease in demand for labor Helf

  7. BUSINESS CYCLE: PERIOD OF ECONOMIC EXPANSION FOLLOWED BY A PERIOD OF CONTRACTION. E. Napp

  8. Recent unemployment rates:Overall Helf

  9. Recent unemployment rates:Overall E. Napp Helf

  10. Recent unemployment rates:African American- Helf

  11. Recent unemployment rates:Hispanic Helf

  12. Other Employment Stats: • Work Force Participation • New Jobs Added • Median income level Helf

  13. The Great Depression was the most severe economic contraction in the history of the world. It permanently changed the way economists think. Helf

  14. Exit Slip • Choose 3 of the 4 types of unemployment: • Frictional, Seasonal, Structural, and Cyclical • Then describe a real life situation that falls under each type of unemployment. Helf

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