Posted: February 26th, 2023

Economics

Due Tuesday (14th FEB)

DATA EXERCISE #2

Due at the End of Week 5

Format of the Project:

The Data Exercise must be posted to the LEO Student Assignments as a Attachments

are limited to a maximum two files in doc, docx., xls. xlsx., or rtf. formats. OTHER

FORMATS ARE NOT ACCEPTABLE, will not be reviewed or graded.

Please note that hand-written and scanned works, pdf. files, jpg. files, as well as

files posted in google drive, will not be accepted or graded.

Please note that starting from the Fall 2020 semester the UMGC moved to the 7th

Edition of the APA Style. The links to the 7th Edition of the APA

Style methodology are posted in Content – Course Resources – Writing

Resources.

No more than 20% of the text of the project should be made up of quotes.

Please note that Use of the 7th Edition APA Citation Methodology is required for

all parts of the assignment

Written projects:

1. Must be typed, double-spaced, in 12-point Times New Roman or Arial font, with

one-inch margins

2. Must have the title page in APA-7th style

3. Must have in-text citations in APA-7th edition style

4. Must have reference list in APA-7th edition style. Please note that you must

reference the data you are using for the project

5. Must be prepared using word processing software (Microsoft Word preferred)

DATA EXERCISE #2

Consists of three parts

Part 1: The Unemployment Rate (weight 30% of the assignment grade)

Complete the following exercise

Visit the Bureau of Labor Statistics Web Site, www.bls.gov/news.release/empsit.toc.htm

(http://www.bls.gov/news.release/empsit.toc.htm). Select Employment Situation

Summary.

Please note that using the data from previously published releases and

summaries will produce grade zero for

this part of the project.

Write a report (1 – 2 pages double spaced) in your own words to answer the

questions:

1. What month (and year) is summarized? What was the unemployment rate for

that month? How does that rate compare with the rate in the

previous month?

2. What were the unemployment rates for adult women, teenagers, blacks,

Hispanics, and whites? How did these rates compare with those a month earlier?

3. What factors make it difficult to determine the unemployment rate?

4. Why is unemployment an economic problem?

5. What are the noneconomic effects of unemployment?

6. Who loses from unemployment?

7. Please analyze and discuss the significance of the data that you received

for this Data exercise.

8. Reflect on what you have learned from this exercise.

http://www.bls.gov/news.release/empsit.toc.htm

Part 2: The Inflation Rate (weight 30% of the assignment grade)

Complete the following exercise:

Visit the Bureau of Labor Statistics Web Site, www.bls.gov/news.release/cpi.toc.htm

(http://www.bls.gov/news.release/cpi.toc.htm). You will be using ―Consumer Price Index

Summary‖ and the ―Table 1 Consumer Price Index for All Urban Consumers (CPI-U): U. S.

city average, by expenditure category ―.

Please note that using the data from previously published releases and

summaries will produce grade zero for this part of the project.

Write a report (1 – 2 pages double spaced) in your own words to answer the

questions:

1. What month (and year) is summarized? What was the level of the CPIU for that

month? (See Table 1 ―Consumer Price Index for All Urban Consumers‖). What does

this number represent?

2. What was the rate of inflation (percentage change in the CPIU) for the last

available month? How does that rate of inflation compare with the rate in the

previous month?

3. What was the rate of inflation (percentage change in the CPIU) for the last 12

months for ―all items‖?

4. Which two categories of goods or services had the greatest price increase for the

last 12 months? Which two categories of goods or services had the lowest price

increase for the last 12 months?

5. Which two categories of goods or services had the largest price decrease for the

last 12 months?

6. Who loses from inflation?

7. Who benefits from inflation?

8. Please analyze and discuss the significance of the data that you received

for this Data Exercise.

9. Reflect on what you have learned from this exercise.

http://www.bls.gov/news.release/cpi.toc.htm

Part 3: Unemployment Data by Labor Force Groups and Duration (30% of the

project grade)

Go to https://www.govinfo.gov/app/collection/erp

This is the home page of the Economic Report of the President.

Click on the last available Report, scroll down, and download individual tables as Excel.

Please note that using the data from previous Reports will produce grade zero for

this part of the project.

1. Find unemployment data (Table B–27.—Civilian unemployment rate) for each

year 2000 to present. Use three labor force groups: men 20 years and over,

women 20 years and over, both sexes 16 to 19 years of age.

a. Present the result in your project as a table.

b. Create one or more charts (line graph, bar graph, etc.).

2. Find unemployment data (Table B–27.—Civilian unemployment rate) for each

year 2000 to present by educational attainment (25 years and over). Use the

following groups: less than an high school diploma; high school graduates, no

college; some college or associate degree; bachelor’s degree and higher.

a. Present the result in your project as a table.

b. Create one or more charts (line graph, bar graph, etc.).

3. Use the Economic Report of the President (Table B–28.—Unemployment by

duration and reason) to find data on the duration of unemployment for each year

2000 to present.

a. Present the result in your project as a table.

b. Create one or more charts (line graph, bar graph, etc.).

https://www.govinfo.gov/app/collection/erp

Write a report (2 pages double-spaced) in your own words about the results you

received.

In this paper consider, but do not be limited to the following:

1. Which years had the highest and lowest unemployment rates? How do the rates

compare among these groups?

2. Compare the unemployment rates by educational attainment. How do the rates

compare among these groups? What relationship, if

any, do you find?

3. Compare the distribution of unemployment by duration over these years. Which

years had the highest and lowest unemployment duration? What relationship, if

any, do you find?

4. Demographic studies show that the proportion of teenagers and minorities in the

U.S. population is likely to increase in the near future. In your opinion, what

implications, if any, will this trend have on the unemployment rate?

5. Please analyze and discuss the significance of the data that you received

for this Data exercise.

6. Reflect on what you have learned from this exercise.

PRESENTATION OF THE DATA EXERCISE AND USE OF APA CITATION

METHODOLOGY (10%) of the project grade):

 Organization, format, and presentation of paper including the title page, introduction,

body, and summary. Begin each section with a subheading; use the subheadings

described in the assignment (3% of the project

grade).

 Use of tables, figures, and other graphics to summarize and support analysis presented

in the paper. All tables and charts should have the numbering system: ―Table 1‖, a

substantive title, and a reference to the source of the information. (3% of the project

grade).

 Research sources and significance of research information and data, and use of APA

citation methodology (4% of the project grade).