L17 Business Cycles and Unemployment

What organization officially declares what periods of time the United States has been in a recession?

When the housing bubble burst, many people faced mortgage foreclosures and their consumption spending decreased. Banks became more cautious about lending money as they struggled to assess how risky their asset holdings really were. Does this sound like a demand-side shock, or a supply-side shock?

The Bureau of Labor Statistics find that in a county with a population of 100,000 adults:

  72,000  Employed

    8,000  Not employed, but actively looking for a job

  20,000  Not employed and not looking for jobs

What is the Labor Force Participation Rate?

The Bureau of Labor Statistics find that in a county with a population of 100,000 adults:

  72,000  Employed

    8,000  Not employed, but actively looking for a job

  20,000  Not employed and not looking for jobs

What is the Unemployment Rate?

If many people who are looking for full-time work are only able to find part-time work, the official unemployment rate will

When workers become "discouraged" and quit job-hunting after many months of unemployment, the official unemployment rate will