Question

Indicate whether each of the following statements accurately describes the differences in the employment situation between November 2016 and November 2017.

a. A smaller number of jobless people who wanted a job and were available to work had given up on their job search in November 2017 compared to November 2016.

b. In November 2017, a larger fraction of the civilian noninstitutional population was employed than in November 2016.

c. A smaller fraction of the civilian noninstitutional population was in the labor force in November 2017 than in November 2016.

d. The U-1 and U-4 measures of labor underutilization were lower in November 2017 than they were in November 2016.

Answer 1

The employment situation between November 2016 and November 2017 can be analyzed using unemployment rates and labor force data. While long-term trends show no significant rise or fall in unemployment rates, specific months can see changes. Lower U-1 and U-4 rates would suggest improvement in underemployment and discouraged workers over that period.

Step-by-step explanation:

The employment situation between November 2016 and November 2017 can be evaluated using certain economic measures and trends. Statement a suggests a decrease in the number of jobless people who have stopped searching for work. This can be linked to the broader trend of the unemployment rate, which has not shown significant long-term upward or downward trends, indicating a possible reduction in discouraged workers. Statement b implies a higher employment rate, which would be consistent with historical low unemployment rates, such as those experienced from September 2015 through January 2017. Statement c touches on labor force participation, which may not necessarily correspond with the other statements if there is an increase in the population not actively looking for work. Lastly, statement d mentions the U-1 and U-4 measures of labor underutilization. If these rates were lower in November 2017, it would indicate an improvement in underemployment and discouraged worker situations over the year.

Answer 2

The correct answer would be a. True, b. True, c. False, d. True. The employment situation in November 2017 compared to November 2016 showed positive changes in terms of jobless people, fraction of the population employed, and labor underutilization measures.

Step-by-step explanation:

To indicate whether each of the statements accurately describes the differences in the employment situation between November 2016 and November 2017, we need to examine the information provided:

1. a. The statement suggests that in November 2017, a smaller number of jobless people who wanted a job and were available to work had given up on their job search compared to November 2016. This indicates a positive change in the employment situation.
2. b. The statement suggests that in November 2017, a larger fraction of the civilian noninstitutional population was employed compared to November 2016. This also indicates a positive change in the employment situation.
3. c. The statement suggests that in November 2017, a smaller fraction of the civilian noninstitutional population was in the labor force compared to November 2016. This indicates a negative change in the employment situation.
4. d. The statement suggests that the U-1 and U-4 measures of labor underutilization were lower in November 2017 than they were in November 2016. This indicates a positive change in the employment situation.

Based on the information provided, statements a, b, and d accurately describe the differences in the employment situation between November 2016 and November 2017. Statement c, however, does not accurately describe the situation. The correct answer would be a. True, b. True, c. False, d. True.