Understanding the Labor Force

Read the section on the Labor Force in your text book beginning on page 31 and ending on page 35. Note the difference in the terms "labor force" and "labor participation rate."

Read the following article:

http://www.bloomberg.com/news/2014-05-02/workforce-participation-at-36-year-low-even-as-more-jobs-beckon.html

Assignment: Write a paper answering the following questions:

1. How does the labor participation rate affect the unemployment rate? Does the unemployment rate really reflect the number of people out of work? How?

2. Why do you believe the size of the workforce is decreasing? Cite evidence from the article or your textbook for your answer.

3. Why do you believe people are delaying entering the workforce? Read the following article:

http://www.usatoday.com/story/news/nation/2013/10/31/more-than-a-college-degree/3324303/

Do you believe that education plays a role in people delaying entering the workforce? Why or why not?

4. Think of yourself as a unique set of skills, what skills will you have when you enter the work force? What skills have you already attained? What level of education (College degree, technical certification, etc.) will you need to land the job you want?

5. How could high schools change their curriculum to better prepare students for the workforce? How could students be encouraged to work harder in school?

Title your paper Labor Force. After writing your paper, share it with me on your Google Drive. Your paper is due at the end of class. See me if you have questions.