Younger workers tend to have higher unemployment, while middle-aged workers tend to have lower unemployment, probably because the middle-aged workers feel the responsibility of needing to have a job more heavily. Younger workers move in and out of jobs (and in and out of the labor force) more easily.
Why is the US unemployment rate so much lower?
The U.S. unemployment rate is so much lower because the population is so much older . This paper argues that in the absence of the baby boom, the unemploy- ment rate would neither have increased from 1957 to 1979, nor have fallen in the subsequent two decades. The paper also considers other demographic changes.
Are US unemployment rates typically higher/lower or about the same as unemployment rates in other high income countries?
Are U.S. unemployment rates typically higher, lower, or about the same as unemployment rates in other high-income countries? It depends on the country, but the U.S. typically has a lower unemployment rate than the average high-income country .
Would you expect the natural rate of unemployment to be roughly the same in different countries quizlet?
Moreover, the natural unemployment rate consists from structural, frictional unemployment . Therefore, the natural unemployment rate is different among countries according to the percentage of structural and frictional unemployment in different countries.
Why does the unemployment rate differ so much between countries?
“This variation partly reflects differences in country-specific factors , such as the degree of labor market flexibility, language requirements and so forth, but also differences in the nature of migrant inflows to different countries,” writes Fordham.
What will the unemployment rate be in 2021?
According to the economic projections of the Federal Reserve, the unemployment rate in the US will average at 4.5% by the end of 2021 and pursue its fall in 2022 and 2023, reaching 3.8% and 3.5% levels correspondingly.
What causes high unemployment rates?
When businesses contract during a recessionary cycle , workers are let go and unemployment rises. When unemployed consumers have less money to spend on goods and services, businesses must contract even further, causing more layoffs and more unemployment.
What term best describes the remaining level of unemployment?
Economists have a term to describe the remaining level of unemployment that occurs even when the economy is healthy: it is called the natural rate of unemployment .
Why are unemployment rates lower for individuals with more education quizlet?
What might be a reason why the unemployment rates are lower for individuals with more education? Workers with more education are more in demand and there are fewer of them to go around , so it is easier for them to find work than for uneducated workers.
Can employment and unemployment both increase at the same time?
Yes, it is possible for the unemployment rate and the employment ratio to rise during the same month . For example, suppose the population falls, the labor force is constant, the number of unemployed rises, and the number of employed falls (but by less than the decline in population).
Does immigration cause unemployment?
Unemployed workers are the group most likely to be affected by the presence of immigrants in their local labor markets, as they are actively competing for jobs. ... Fromentin (2012), using aggregated panel data for OECD countries, finds that immigration increases short- term unemployment but reduces long-term unemployment .
Can legal immigrants get unemployment?
As an undocumented worker, can I collect unemployment insurance? No. ... The California Employment Development Department (EDD), the agency that decides who has the right to unemployment insurance, has determined that undocumented workers are not, “available for work ,” because they are not legally eligible for work.
Why is Sweden youth unemployment so high?
STOCKHOLM (Reuters) – Youth unemployment in Sweden hit its highest level this century in July due to the widespread economic disruption caused by the coronavirus pandemic and measures to halt its spread , figures from the Statistics Office showed on Thursday.
What state has the highest unemployment pay?
What state has the highest unemployment benefits? The state with the highest maximum payout for unemployment insurance is Massachusetts . The maximum weekly payout is $823. This is 88% higher than the national average in benefit payouts.
What state has the highest unemployment 2021?
Employment increased year over year in all 50 states and the District of Columbia. Nevada had the highest unemployment rate in July at 7.7%, followed by California, New Mexico and New York at 7.6% each. Nebraska and Utah had the lowest rates, at 2.3% and 2.6%, respectively.
What unemployment rate is considered full employment?
The Federal Reserve considers a base unemployment rate (the U-3 rate) of 5.0 to 5.2 percent as “full employment” in the economy. The recovery has now achieved that level, known technically as the Non-Accelerating Inflation Rate of Unemployment, or NAIRU.
