Latest Employment and Inflation Data in the US: An Analysis

Running head: ECONOMICS
Economics
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1ECONOMICS
Table of Contents
Part 1: The Unemployment Rate.....................................................................................................2
Introduction..................................................................................................................................2
Analysis of employment data......................................................................................................2
Conclusion...................................................................................................................................3
Part 2: The Inflation rate..................................................................................................................4
Introduction..................................................................................................................................4
Analysis of inflation data.............................................................................................................4
Conclusion...................................................................................................................................5
Part 3: Unemployment Data by Labor Force Groups and Duration................................................5
Introduction..................................................................................................................................5
Analysis of labor market data......................................................................................................5
Conclusion.................................................................................................................................10
References......................................................................................................................................11

2ECONOMICS
Part 1: The Unemployment Rate
Introduction
Unemployment refers to scenario where people though look for jobs but are unable to
find a suitable job (Goodwin et al., 2015). The report discusses latest employment scenario in
United State. In addition to overall unemployment, focus has also been given on prevailing
unemployment among adult women, teenagers, blacks, Hispanics, and whites.
Analysis of employment data
The data summarized unemployment data for the month of February for the year 2019.
The unemployment rate for this month is recorded to be 3.8 percent (Bls.gov, 2019). The
unemployment rate declined by 0.2 percentage point compared to the previous month with
recorded unemployment rate being 4.0 percent in the last month.
The unemployment rate for adult women is recorded to be 3.4. This is lower than the
recorded unemployment rate of 3.6 percent for adult women in the previous month. For
teenagers the unemployment rate is 13.4 percent. The recorded unemployment rate for teenagers
in the month of January was 12.9 percent. In case of blacks, Hispanics and whites, the recorded
unemployment rate are 7.0 percent, 4.3 percent and 3.3 percent respectively. For whites, rate of
unemployment in the previous month was a little higher of 3.5 percent (Bls.gov, 2019). The
unemployment rate for blacks in the previous months was lower with rate being 6.8 percent. The
unemployment rate for Hispanics in the previous month was higher at 4.9 percent.
The method used to determine unemployment rate can hide or reflect a relatively smaller
statistics regarding those who are actually not employed or would work if get the right

3ECONOMICS
opportunity. The seasonally adjusted unemployment or natural unemployment rate also misguide
unemployment statistics by making the rate larger than unemployment actually is.
Unemployment has several unintended consequences for the economy as whole. When
unemployment increases many people loss jobs and hence suffer from a decline in income. The
loss of income forces people to lower their expenditure, which adversely affect economic
growth. Widespread unemployment also aggravates the problem of poverty (Agenor & Montiel,
2015). Lower tax revenue and loss of human capital are other economic costs of unemployment.
The non-economic effect of widespread unemployment include the feeling of failure and
mental stress to the parents and their children, the sense of being useless in the society or of no
belonging.
Unemployment hit the hardest to the unemployed persons and their families (Case, Fair
& Oster, 2014). The low skilled poor workers losing their jobs are the immediate losers from
unemployment.
Conclusion
Evaluation of unemployment data reveals that overall unemployment rate has declined by
0.2 percentage point compared to previous month. There is a decline in unemployment for adult
women, white and Hispanics. In contrast, unemployment for teenagers and blacks have
documented an increase when compared with previous month. The incidence of unemployment
have both economic and non-economic consequences in a country.