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Probably because, in the US for instance) with over 300 million people and people moving in and out of employment, its hard to keep accurate records. The only really known figures are those drawing unemployment benefits. The rest can only be guessed and government statisticians would rather be accurate than have guesstimates.
Wiki User
∙ 12y ago
The government may undercount the real unemployment rate due to discrepancies in how unemployment is defined and measured. For instance, discouraged workers who have stopped actively seeking employment may not be included in official counts. Additionally, different methodologies or criteria used for measuring unemployment can lead to variations in reported rates.
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What is the unemployment rate of Monaco?
Monaco has a very low unemployment rate, estimated to be around 2% as of 2021. The economy of Monaco is primarily driven by tourism, finance, and real estate, which helps to keep unemployment levels low.
What is a true unemployment rate?
The true unemployment rate refers to the actual number or percentage of people who are actively looking for work but are unable to find employment. It may differ from official statistics if certain groups like discouraged workers or underemployed individuals are not included in the official calculations.
What is the unemployment rate of Tonga?
As of 2021, the unemployment rate in Tonga is around 4.8%. This figure represents the percentage of the labor force that is currently unemployed and actively seeking employment. Unemployment rates can fluctuate based on economic conditions and government policies.
What is current unemployment rate in Bangalore?
I do not have real-time data. You can check the current unemployment rate in Bangalore by visiting the official website of the Bureau of Labor Statistics or contacting the local labor department for the most up-to-date information.
What is the Philippines death rate per minute?
I don't have real-time data on the Philippines death rate per minute. Death rate is typically measured per 1,000 people per year, not per minute. You may be able to find more up-to-date information from official sources or reports.
What is a true unemployment rate?
The true unemployment rate refers to the actual number or percentage of people who are actively looking for work but are unable to find employment. It may differ from official statistics if certain groups like discouraged workers or underemployed individuals are not included in the official calculations.
What does a contractionary gap imply about the actual rate of unemployment relative to the natural rate of unemployment?
Assume certeris paribus, an expansionary gap is where real GDP is above the full employment, and a contractionary gap is where real GDP is below the full employment.
Can Real GDP rise at the same time the unemployment rate rises?
as long as a different sector of the economy contributes to GDP by more than was lost from unemployment, real GDP will rise, if only marginally.
How does real GDP affect unemployment rate?
Real GDP is a measure of the economic output of a country. The absolute measure only tells you what that output was for a particular period. The more important measure for employment is the difference between real GDP and a theoretical real GDP which economists use to calculate the maximum output of an economy. When the gap between real GDP and maximum output GDP is large, the unemployment rate will be large and vice versa.
Why does disequilibrium unemployment exist?
Disequilibrium unemployment, also known as real wage unemployment or classical unemployment exists primarily for 2 reasons: 1) trade unions or labor organizations bargain for higher wages, or 2) government mandates some minimum wages.
What data type is unemployment rates?
Unemployment rates are typically expressed as a percentage of the total workforce. Thus the unemployment rate for any given locale is a real number (float, double or long double) in the closed range 0.0 through 100.0.
When was the last time the unemployment rate was under 6 percent?
hmm.. that's a good question!! In Greece I don't think that unemployment rate was ever that low... There were always young people who after taking their degrees/diplomas they would leave the country to get some real job..
What is the real unemployment rate?
•This includes the people who are unemployed, underemployed, and people who aren't working and looking for a job, but aren't dedicated or in desperate need of one
Real GDP is rising at a 5% rate, unemployment is at 6% and falling, and inflation is rising at about 2% per year. Where in the business cycle is the economy?
expansion
What are the four main economic variables?
The four main economic variables (in macroeconomics) are 1. Real Gross Domestic Product (GDP) 2. The unemployment rate 3. The inflation rate 4. The interest rate -------- 5. Level of the stock market 6. Exchange rate
What is the unemployment rate of Tonga?
As of 2021, the unemployment rate in Tonga is around 4.8%. This figure represents the percentage of the labor force that is currently unemployed and actively seeking employment. Unemployment rates can fluctuate based on economic conditions and government policies.
When real GDP declines during a recession what typically happens to consumption investment and the unemployment rate?
Unemployment rate rises as output falls so fewer workers are needed. Cosumption falls as people become poorer due to unemployment so they cannot spend but save so this leads to a fall in investment as firms dont make as much profit due to less people spending.
