Overview of bls statistics on unemployment

Reference no: EM13805000

Review the information available on the following websites. You will use this information to answer the questions below:
- Overview of BLS Statistics on Unemployment: https://www.bls.gov/bls/unemployment.htm
- Unemployment, total (% of total labor force): https://data.worldbank.org/indicator/SL.UEM.TOTL.ZS
Read the following scenario, then navigate to the threaded discussion below and respond to the questions:Michigan Unemployment Tops 15%The U.S. Department of Labor reported that Michigan's unemployment rate in 2009 rose to 15.2%, becoming the first state in 25 years to suffer an unemployment rate exceeding 15%. Michigan has been battered by the collapse of the auto and housing industries, and has had one of the highest unemployment rates in the country over past several years.
1. Why is the reality of the unemployment problem in Michigan actually worse than the statistic of 15.2%?
2. Is the increased unemployment frictional, structural, or cyclical? Please explain your answer.

Reference no: EM13805000

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