This week we are learning about economic measures. Though they tell us a lot, there is plenty they do not, or can not, tell us. Using at least one economic measure as an example, explain its limitations and describe additional information or measures that would go well with the particular measure and provide additional illumination.
In addition to contributing your own answer by Saturday, please provide at least one thorough, thoughtful response to a classmate by Tuesday.
ALSO PLEASE REPLY TO ANOTHER STUDENTS COMMENT BELOW
The economic measure I chose is the unemployment rate measure. The unemployment rate measures how many people are out of work in the United States. The rate for unemployment rises or falls depending on the change of economic conditions. It rising when the economy is poor shape and jobs are scarce, and if the economy grows at a health rate and jobs are plentiful, that can be expected to fall. The unemployment rate can never be zero percent because some people chose not to work, some are in between jobs or some skilled workers find their skills are no longer in demand. Full employment is where all available workers are in the labor force are being use in the efficient way. This employment has the highest skilled and unskilled labor that can be employed. The headline for unemployment rate associated with full employment has been around four to six percent, in the United States.