4.03 Principles Of Macro Economics

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Brandon Wallace Econ 270:03 Principles of Macro-Economics October 3, 2011 Section I: Inflationary Trends 1) 2) 3) Consumer Price Index is the average of consumer goods and services purchased by households. The consumer price index was fairly steady between January of 2010 and January of 2011. However, since January of 2011 consumer price index has steadily risen. It seemed to peak and slightly fall around May of 2011 but has started to rise again by July of 2011. Tables from the Bureau of Labor Statistics website show that the largest increases have been in the food, beverage, and transportation categories. Transportation increases may have to do with gas price increases. Also, there has been a decent increase in medical…show more content…
The unemployment rate was at about 9.5 percent to 9.7 percent in the beginning of 2010 up until December and then it started to slightly decline. It got down to 8.8 percent but then rose over 9 percent again by May of 2011 and has stayed around that percentage. This may be a sign that jobs are being created and hopefully the unemployment rate will experience another decrease during 2011. The unemployment rates by age showed that the 16-19 age group is having the worst time with unemployment. The unemployment rates for 16-19 year olds has stayed pretty steadily around 25 percent since the beginning of 2010 until the present and has never been below 24.5 percent. For the age group 20 years or over the unemployment rate averages around 8.5 to 9 percent unemployment. However, there is a higher unemployment rate for men than women throughout 2010 and into 2011 thus far. This shows that jobs where men are more likely to work were most likely hit harder during the recession than jobs that are predominately taken by women. However, the gap seems to be getting smaller as more time goes…show more content…
Sitting at the top are those that have been unemployed for 15 weeks averaging about 8.5 million unemployed. Below them are those that have been unemployed 27 weeks and over averaging about 6.3 million unemployed. Why are there more unemployed at 15 weeks than 27 weeks? This may be the fact that people are finding jobs before they hit the 27 week mark. However, we may see a change in this if the economy stays as it is because all the people in that 15 week unemployment range are on their way to the 27 week unemployment range if a job cannot be found. Next are those that have been unemployed for 5 to 14 weeks averaging about 3 million unemployed. Last are those that have been employed less than 5 weeks averaging about 2.5 million

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