DATA EXERCISE #2 ASSIGNMENT
Consists of three parts
Part 1: The Unemployment Rate (weight 30% of the assignment grade)
Complete the following exercise
Visit the Bureau of Labor Statistics Web Site, www.bls.gov/news.release/empsit.toc.htm
(http://www.bls.gov/news.release/empsit.toc.htm). Select Employment Situation Summary.
Please note that using the data from previously published releases and summaries will produce grade zero for this part of the project.
Write a report (about 2 pages double spaced) in your own words to answer the questions:
1. What month (and year) is summarized? What was the unemployment rate for that month? How does that rate compare with the rate in the previous month?
2. What were the unemployment rates for adult women, teenagers, blacks, Hispanics, and whites? How did these rates compare with those a month earlier?
3. What factors make it difficult to determine the unemployment rate? Please include references from course learning resources, recent news articles, journals, or other credible sources to support your answer to this question.
4. Why is unemployment an economic problem? Please include references from course learning resources, recent news articles, journals, or other credible sources to support your answer to this question.
5. What are the noneconomic effects of unemployment? Please include references from course learning resources, recent news articles, journals, or other credible sources to support your answer to this question.
6. Who loses from unemployment? Please explain your answer.
7. Please analyze the significance of the data that you received for this Data exercise. Please include references from course learning resources, recent news articles, journals, or other credible sources to support your analysis.
8. Reflection– the students should write a paragraph in their own words reflecting on specifically what they learned from the assignment and how they think they could apply what they learned in the workplace and/or in everyday life.
Part 2: The Inflation Rate (weight 30% of the assignment grade)
Complete the following exercise:
Visit the Bureau of Labor Statistics Web Site, www.bls.gov/news.release/cpi.toc.htm (http://www.bls.gov/news.release/cpi.toc.htm). You will be using “Consumer Price Index Summary” and the “Table 1 Consumer Price Index for All Urban Consumers (CPI-U): U. S. city average, by expenditure category “.
Please note that using the data from previously published releases and summaries will produce grade zero for this part of the project.
Write a report (about 2 pages double spaced) in your own words to answer the questions:
1. What month (and year) is summarized? What was the level of the CPIU for that month? (See Table 1 “Consumer Price Index for All Urban Consumers”). What does this number represent?
2. What was the rate of inflation (percentage change in the CPIU) for the last available month? How does that rate of inflation compare with the rate in the previous month?
3. What was the rate of inflation (percentage change in the CPIU) for the last 12 months for “all items”?
4. Which two categories of goods or services had the greatest price increase for the last 12 months? Which two categories of goods or services had the lowest price increase for the last 12 months?
5. Which two categories of goods or services had the largest price decrease for the last 12 months?
6. Who loses from inflation? Please include references from course learning resources, recent news articles, journals, or other credible sources to support your analysis.
7. Who benefits from inflation? Please include references from course learning resources, recent news articles, journals, or other credible sources to support your analysis.
8. Please analyze the significance of the data that you received for this Data Exercise. Please include references from course learning resources, recent news articles, journals, or other credible sources to support your analysis.
9. Reflection– the students should write a paragraph in their own words reflecting on specifically what they learned from the assignment and how they think they could apply what they learned in the workplace and/or in everyday life.
Part 3: Unemployment Data by Labor Force Groups and Duration (30% of the project grade)
Go to https://www.govinfo.gov/app/collection/erp
This is the home page of the Economic Report of the President.
Click on the most recent available Report, scroll down, and download individual tables as Excel. Click on the button XLS next to the table you are using for each question to download the data.
Please note that using the data from previous Reports will produce grade zero for this part of the project.
1. Collect and present the required data and charts (15% of the project grade)
1) Find unemployment data (Table B–27.—Civilian unemployment rate) for each year 2000 to present. Use three labor force groups: men 20 years and over, women 20 years and over, both sexes 16 to 19 years of age.
a. Present the result in your project as a table.
b. Create one or more charts (line graph, bar graph, etc.), present them in your project.
2) Find unemployment data (Table B–27.—Civilian unemployment rate) for each year 2000 to present by educational attainment (25 years and over). Use the following groups: less than a high school diploma; high school graduates, no college; some college or associate degree; bachelor’s degree and higher.
a. Present the result in your project as a table.
b. Create one or more charts (line graph, bar graph, etc.), present them in your project.
3) Use the Economic Report of the President (Table B–28.—Unemployment by duration and reason) to find data on the duration of unemployment for each year 2000 to present.
a. Present the result in your project as a table.
b. Create one or more charts (line graph, bar graph, etc.), present them in the project.
2. Write a report (2 pages or more double-spaced) in your own words about the results you received (15% of the project grade)
In this paper consider, but do not be limited to the following:
1. Which years had the highest and lowest unemployment rates? How do the rates compare among men 20 years and over, women 20 years and over, both sexes 16 to 19 years of age? Please include references from recent news articles, journals, or other credible sources to support your analysis.
2. Compare the unemployment rates by educational attainment. How do the rates compare among these groups? What relationship, if any, do you find? Please include references from recent news articles, journals, or other credible sources to support your analysis.
3. Compare the distribution of unemployment by duration over these years. Which years had the highest and lowest unemployment duration? What relationship, if any, do you find? Please include references from recent news articles, journals, or other credible sources to support your analysis.
4. Demographic studies show that the proportion of teenagers and minorities in the U.S. population is likely to increase in the near future. In your opinion, what implications, if any, will this trend have on the unemployment rate? Please include references from recent news articles, journals, or other credible sources to support your analysis.
5. Please analyze the significance of the data that you received for this Data exercise. Please include references from recent news articles, journals, or other credible sources to support your analysis.
6. Reflection– the students should write a paragraph in their own words reflecting on specifically what they learned from the assignment and how they think they could apply what they learned in the workplace and/or in everyday life.
PRESENTATION OF THE DATA EXERCISE (10%) of the project grade):
• Organization, format, and presentation of paper including professional/business style of the title page, introduction, body, and summary. Begin each section with a subheading; use the subheadings described in the assignment (3% of the project grade).
• Use of tables, figures, and other graphics to summarize and support analysis presented in the paper. All tables and charts should have the numbering system: “Table 1”, a substantive title, and a reference to the source of the information. (3% of the project grade).
• Use of the assigned textbook and learning resources provided in the course as a primary reference for the analysis, recent news articles, journals, or other credible sources, appropriate in-text citations and professional/business style of the reference list. (4% of the project grade).