曼昆经济学原理unemployment.pptx

会计学1曼昆经济学原理曼昆经济学原理unemploymentAbout Unemploymentn nMovies recommendedn nRaining Stonen nBicycle Thieves第1页/共48页LEARNING OBJECTIVESn n the data used to measure the amount of unemployment.n n how unemployment can result from minimum-wage laws.n n how unemployment can arise from bargaining between firms and unions.n n how unemployment results when firms choose to pay efficiency wages.第2页/共48页IDENTIFYING UNEMPLOYMENTn nCategories of Unemploymentn nThe problem of unemployment is usually divided The problem of unemployment is usually divided into two categories.into two categories.n nThe long-run problem and the short-run problem:The long-run problem and the short-run problem:n nThe natural rate of unemployment The natural rate of unemployment n nThe cyclical rate of unemploymentThe cyclical rate of unemployment第3页/共48页IDENTIFYING UNEMPLOYMENTn nNatural Rate of Unemploymentn nThe natural rate of unemploymentThe natural rate of unemployment is is unemployment unemployment that does not go away on its own even in the long that does not go away on its own even in the long run.run.n nIt is the amount of unemployment that the economy It is the amount of unemployment that the economy normally experiences.normally experiences.第4页/共48页IDENTIFYING UNEMPLOYMENTn nCyclical Unemploymentn nCyclical unemploymentCyclical unemployment refers to the year-to-year refers to the year-to-year fluctuations in unemployment around its natural rate.fluctuations in unemployment around its natural rate.n nIt is associated with with short-term ups and downs It is associated with with short-term ups and downs of the business cycle.of the business cycle.第5页/共48页IDENTIFYING UNEMPLOYMENTn nDescribing Unemploymentn nThree Basic Questions:Three Basic Questions:n nHow does government measure the economys rate of How does government measure the economys rate of unemployment?unemployment?n nWhat problems arise in interpreting the unemployment What problems arise in interpreting the unemployment data?data?n nHow long are the unemployed typically without work?How long are the unemployed typically without work?第6页/共48页How Is Unemployment Measured?How Is Unemployment Measured?n nUnemployment is measured by the Bureau of Labor Statistics(BLS).n nIt surveys 60,000 randomly selected households It surveys 60,000 randomly selected households every month.every month.n nThe survey is called the Current Population Survey.The survey is called the Current Population Survey.第7页/共48页How Is Unemployment Measured?How Is Unemployment Measured?n nBased on the answers to the survey questions,the BLS places each adult into one of three categories:n nEmployedEmployedn nUnemployedUnemployedn nNot in the labor forceNot in the labor forcen nThe BLS considers a person an adult if he or she is over 16 years old.第8页/共48页How Is Unemployment Measured?How Is Unemployment Measured?n nA person is considered employed if he or she has spent most of the previous week working at a paid job.n nA person is unemployed if he or she is on temporary layoff,is looking for a job,or is waiting for the start date of a new job.n nA person who fits neither of these categories,such as a full-time student,homemaker,or retiree,is not in the labor force.第9页/共48页How Is Unemployment Measured?How Is Unemployment Measured?n nLabor Forcen nThe The labor force labor force is the total number of workers,is the total number of workers,including both the employed and the unemployed.including both the employed and the unemployed.n nThe BLS defines the labor force as the sum of the The BLS defines the labor force as the sum of the employed and the unemployed.employed and the unemployed.第10页/共48页Figure 1 The Breakdown of the Population in 2001Figure 1 The Breakdown of the Population in 2001Copyright2003 Southwestern/Thomson LearningAdultPopulation(211.9 million)Labor Force(141.8 million)Employed(135.1 million)Not in labor force(70.1 million)Unemployed(6.7 million)第11页/共48页How Is Unemployment Measured?How Is Unemployment Measured?n nThe unemployment rate is calculated as the percentage of the labor force that is unemployed.第12页/共48页n nThe labor-force participation rate is the percentage of the adult population that is in the labor force.How Is Unemployment Measured?How Is Unemployment Measured?第13页/共48页Table 1 The Labor-Market Experiences of Various Table 1 The Labor-Market Experiences of Various Demographic GroupsDemographic GroupsCopyright2004 South-Western第14页/共48页Figure 2 Unemployment Rate Since 1960Figure 2 Unemployment Rate Since 1960Copyright2003 Southwestern/Thomson Learning108642019701975196019651980198519902005Percent ofLabor Force19952000Natural rate ofunemploymentUnemployment rate第15页/共48页Figure 3 Labor Force Participation Rates for Men Figure 3 Labor Force Participation Rates for Men and Women Since 1950and Women Since 1950Copyright2003 Southwestern/Thomson Learning1008060402001950195519601965197019751980198519902000Labor-ForceParticipationRate(in percent)WomenMen1995第16页/共48页Does the Unemployment Rate Measure What We Want It To?Does the Unemployment Rate Measure What We Want It To?n nIt is difficult to distinguish between a person who is unemployed and a person who is not in the labor force.n nDiscouraged workers,people who would like to work but have given up looking for jobs after an unsuccessful search,dont show up in unemployment statistics.n nOther people may claim to be unemployed in order to receive financial assistance,even though they arent looking for work.第17页/共48页How Long Are the Unemployed without Work?How Long Are the Unemployed without Work?n nMost spells of unemployment are short.n nMost unemployment observed at any given time is long-term.n nMost of the economys unemployment problem is attributable to relatively few workers who are jobless for long periods of time.第18页/共48页Why Are There Always Some People Unemployed?Why Are There Always Some People Unemployed?n nIn an ideal labor market,wages would adjust to balance the supply and demand for labor,ensuring that all workers would be fully employed.第19页/共48页Why Are There Always Some People Unemployed?Why Are There Always Some People Unemployed?n nFrictional unemployment refers to the unemployment that results from the time that it takes to match workers with jobs.In other words,it takes time for workers to search for the jobs that are best suit their tastes and skills.第20页/共48页Why Are There Always Some People Unemployed?Why Are There Always Some People Unemployed?n nStructural unemployment is the unemployment that results because the number of jobs available in some labor markets is insufficient to provide a job for everyone who wants one.第21页/共48页JOB SEARCH n nJob search n nthe process by which workers find appropriate jobs the process by which workers find appropriate jobs given their tastes and skills.given their tastes and skills.n nresults from the fact that it takes time for qualified results from the fact that it takes time for qualified individuals to be matched with appropriate jobs.individuals to be matched with appropriate jobs.第22页/共48页JOB SEARCH n nThis unemployment is different from the other types of unemployment.n nIt is not caused by a wage rate higher than It is not caused by a wage rate higher than equilibrium.equilibrium.n nIt is caused by the time spent searching for the It is caused by the time spent searching for the“right”job.“right”job.第23页/共48页Why Some Frictional Unemployment is InevitableWhy Some Frictional Unemployment is Inevitablen nSearch unemployment is inevitable because the economy is always changing.n nChanges in the composition of demand among industries or regions are called sectoral shifts.n nIt takes time for workers to search for and find jobs in new sectors.第24页/共48页Public Policy and Job SearchPublic Policy and Job Searchn nGovernment programs can affect the time it takes unemployed workers to find new jobs.n nThese programs include the following:n nGovernment-run employment agenciesGovernment-run employment agenciesn nPublic training programsPublic training programsn nUnemployment insuranceUnemployment insurance第25页/共48页Public Policy and Job SearchPublic Policy and Job Searchn nGovernment-run employment agencies give out information about job vacancies in order to match workers and jobs more quickly.第26页/共48页Public Policy and Job SearchPublic Policy and Job Searchn nPublic training programs aim to ease the transition of workers from declining to growing industries and to help disadvantaged groups escape poverty.第27页/共48页Public Policy and Job SearchPublic Policy and Job Searchn nUnemployment insurance is a government program that partially protects workers incomes when they become unemployed.n nOffers workers partial protection against job losses.Offers workers partial protection against job losses.n nOffers partial payment of former wages for a limited Offers partial payment of former wages for a limited time to those who are laid off.time to those who are laid off.第28页/共48页Public Policy and Job SearchPublic Policy and Job Searchn nUnemployment insurance increases the amount of search unemployment.n nIt reduces the search efforts of the unemployed.n nIt may improve the chances of workers being matched with the right jobs.第29页/共48页Public Policy and Job SearchPublic Policy and Job Searchn nStructural unemployment occurs when the quantity of labor supplied exceeds the quantity demanded.n nStructural unemployment is often thought to explain longer spells of unemployment.第30页/共48页Public Policy and Job SearchPublic Policy and Job Searchn nWhy is there Structural Unemployment?n nMinimum-wage lawsMinimum-wage lawsn nUnionsUnionsn nEfficiency wagesEfficiency wages第31页/共48页MINIMUM-WAGE LAWSn nWhen the minimum wage is set above the level that balances supply and demand,it creates unemployment.第32页/共48页Figure 4 Unemployment from a Wage Above the Figure 4 Unemployment from a Wage Above the Equilibrium LevelEquilibrium LevelCopyright2003 Southwestern/Thomson LearningQuantity ofLabor0 Surplus of labor=UnemploymentLaborsupplyLabordemandWageMinimumwageLDLSWELE第33页/共48页UNIONS AND COLLECTIVE BARGAININGn nA union is a worker association that bargains with employers over wages and working conditions.n nIn the 1940s and 1950s,when unions were at their peak,about a third of the U.S.labor force was unionized.n nA union is a type of cartel attempting to exert its market power.第34页/共48页UNIONS AND COLLECTIVE BARGAININGn nThe process by which unions and firms agree on the terms of employment is called collective bargaining.第35页/共48页UNIONS AND COLLECTIVE BARGAININGn nA strike will be organized if the union and the firm cannot reach an agreement.n nA strike refers to when the union organizes a withdrawal of labor from the firm.第36页/共48页UNIONS AND COLLECTIVE BARGAININGn nA strike makes some workers better off and other workers worse off.n nWorkers in unions(insiders)reap the benefits of collective bargaining,while workers not in the union(outsiders)bear some of the costs.第37页/共48页UNIONS AND COLLECTIVE BARGAININGn nBy acting as a cartel with ability to strike or otherwise impose high costs on employers,unions usually achieve above-equilibrium wages for their members.n nUnion workers earn 10 to 20 percent more than nonunion workers.第38页/共48页Are Unions Good or Bad for the Economy?Are Unions Good or Bad for the Economy?n nCritics argue that unions cause the allocation of labor to be inefficient and inequitable.n nWages above the competitive level reduce the Wages above the competitive level reduce the quantity of labor demanded and cause quantity of labor demanded and cause unemployment.unemployment.n nSome workers benefit at the expense of other Some workers benefit at the expense of other workers.workers.第39页/共48页Are Unions Good or Bad for the Economy?Are Unions Good or Bad for the Economy?n nAdvocates of unions contend that unions are a necessary antidote to the market power of firms that hire workers.n nThey claim that unions are important for helping firms respond efficiently to workers concerns.第40页/共48页THE THEORY OF EFFICIENCY WAGESn nEfficiency wages are above-equilibrium wages paid by firms in order to increase worker productivity.n nThe theory of efficiency wages states that firms operate more efficiently if wages are above the equilibrium level.第41页/共48页THE THEORY OF EFFICIENCY WAGESn nA firm may prefer higher than equilibrium wages for the following reasons:n nWorker Health:Better paid workers eat a better diet Worker Health:Better paid workers eat a better diet and thus are more productive.and thus are more productive.n nWorker Turnover:A higher paid worker is less likely Worker Turnover:A higher paid worker is less likely to look for another job.to look for another job.第42页/共48页THE THEORY OF EFFICIENCY WAGESn nA firm may prefer higher than equilibrium wages for the following reasons:n nWorker Effort:Higher wages motivate workers to Worker Effort:Higher wages motivate workers to put forward their best effort.put forward their best effort.n nWorker Quality:Higher wages attract a better pool Worker Quality:Higher wages attract a better pool of workers to apply for jobs.of workers to apply for jobs.第43页/共48页Summaryn nThe unemployment rate is the percentage of those who would like to work but dont have jobs.n nThe Bureau of Labor Statistics calculates this statistic monthly.n nThe unemployment rate is an imperfect measure of joblessness.第44页/共48页Summaryn nIn the U.S.economy,most people who become unemployed find work within a short period of time.n nMost unemployment observed at any given time is attributable to a few people who are unemployed for long periods of time.第45页/共48页Summaryn nOne reason for unemployment is the time it takes for workers to search for jobs that best suit their tastes and skills.n nA second reason why our economy always has some unemployment is minimum-wage laws.n nMinimum-wage laws raise the quantity of labor supplied and reduce the quantity demanded.第46页/共48页Summaryn nA third reason for unemployment is the market power of unions.n nA fourth reason for unemployment is suggested by the theory of efficiency wages.n nHigh wages can improve worker health,lower worker turnover,increase worker effort,and raise worker quality.第47页/共48页