鲁迪格·多恩布什-宏观经济学（第十三版）IPPTChap007.pptVIP

UnemploymentChapter #7Copyright ? 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. IntroductionUnemployment and output are tightly linked – but the link is not perfectUnemployment is a lagging economic indicatorCan be a mistaken guide to policyRising GDP may be of little solace to those still without a jobCosts of unemployment not equally distributed7-2 The Beveridge Curve Finding a job takes timeJob matching process illustrated by the Beveridge CurveShows unemployment rate vs. number of job openingsDuring Great Recession and years following unemployment high, but job vacancies higher in period following recession7-3 The Anatomy of UnemploymentFive key characteristics of unemployment in the U.S.There are large variations in unemployment rates across groups defined by age, race, or experience.There is high turnover in the labor market. Flows into and out of employment and unemployment are high relative to the numbers of employed or unemployed.A significant part of this turnover is cyclical: Layoffs and separations are high during recessions, and voluntary quits are high during booms.Most people who become unemployed in any given month remain unemployed for only a short time.Much of the U.S. unemployment consists of people who will be unemployed for quite a long time.7-4 The Anatomy of UnemploymentThe size of the labor force is determined from surveys by the BLSLabor force = unemployed (U) + employed (E)Unemployed is one who is out of work and who eitherHas actively looked for work during the previous 4 weeks ORIs waiting to be recalled to a job after having been laid off7-5 The Anatomy of UnemploymentEmployed person is one who during the reference week:Did at least one hour of work for pay in the last weekWorked at least 15 hours as an unpaid worker for an enterprise owned by a family member ORWas not working, but only temporarily absent from work (ex. vacation or maturity