Answer the following questions and engage in discussion with your classmates. This discussion board is graded more heavily towards the accuracy of your response. Does your response demonstrate understanding of key concepts, reference academic material, and show a connection of material to life. Interactions are still encouraged and should be respectful and thoughtful. Emphasize quality and not just quantity of interactions. Responses like “Yes” or “I agree” will not add value. Why do you agree or disagree? Please show evidence of your thoughtfulness, critical thinking, and ability to analyze. As always, please review the RUBRIC before completing this assignment.1) Demonstrate how the U.S. Unemployment Rate is Calculated2) Is this an accurate measure of actual unemployment? Why or Why not?CAN YOU RESPOND TO THIS DISCUSSION PLEASE ALSO ?1. The unemployment rate is calculated by the BLS (Bureau of Labor Statistics). They conduct a Current Population Survey where they call 60,000 households each month to conduct a survey to determine the household’s employment status. They determine the household employment status and determine who in the home currently works, is actively looking for a job, or is not currently seeking a job. And based on those numbers, they can determine the unemployment percentage. For example, if they call the 60,000 households and out of them they find 125,000 adults and 10,000 of them are not currently seeking a job but are not employed, it will not calculate them in the result. So that leaves 115,000 adults. Let’s say 105,000 of those adults are employed while the other 10,000 are currently seeking employment, then that means 91.3% of the surveyed people are employed, which leaves the unemployed rate at 8.7% and that is what they provide. This wasn’t a very good example of how the BLS handles their unemployment rate, but from the information I have been reading it makes the most sense.2. I do not believe it is. Using my example above the BLS found 125,000 adults and 10,000 of them were unemployed BUT NOT actively seeking a job. Does that mean some of them don’t want a job? Not necessarily. Sometimes people just give up looking if the job market just isn’t providing enough of the type of jobs people want. I have known some people to just give up looking after a while and just stay at home with the parents or something because it seemed hopeless. Personally, I feel as though the unemployment rate is always a bit higher than usually provided.
