Looking at the Unemployment and Inflation Data This chapter reviewed key concepts relating to unemployment and inflation. In this application, you get a chance to examine U.S. unemployment and inflation data on your own.
Title: Bureau of Labor Statistics: Employment and Unemployment
Navigation: Use the link at www.econtoday.com/chap07 to visit the 'Employment° page of the Bureau of Labor Statistics (BLS). Click on 'Top Picks° next to Labor Force Statistics (Current Population Survey-CPS).
Application: Perform the indicated operations, and answer the following questions. Are cyclical factors important?
For Group study and Analysis
Divide the class into groups, and assign a price index to each group. Ask each group to take a look at the index for All Years at the link to the BLS statistics on inflation at www.econtoday.com/chap07. Have each group identify periods during which their index accelerated or decelerated (or even fell). Do the indexes ever provide opposing implications about inflation and deflation?