CAROLINE DAVISCHANCE CLARKANANJA LOUW

Unemployment and Welfare

Video

http://www.youtube.com/watch?v=_CdTu1pk06w&feature=youtube_gdata_player

Vocabulary

Unemployment- when a person is actively searching for employment or currently out of work.

Unemployment rate- the percentage of the work force that is unemployed or searching for work at any given rate.

Poverty Rate- percentage of the people under the poverty line at any given rate

Poverty Threshold- the minimum level of income deemed necessary to achieve an adequate standard of living in a nation or country.

Vocab Continued

Underemployment- Refers to an unemployment situation that is insufficient in some important way for the worker, relative to a standard.

Income Distribution- How a nation’s total GDP is distributed amongst its population.

GDP- The total value of goods produced and services provided in a country during one year.

Gini Curve- Gini index measures the extent to which the distribution of income or consumption expenditure among individuals or households within an economy deviates from a perfectly equal distribution.

Different Types of Employment

Vocab Continued

Frictional unemployment: unemployment that comes from people moving between jobs, careers, and locations. Example: Students who just graduated from college

Seasonal unemployment: Periodic unemployment created by seasonal variations in particular industries, especially industries such as construction that are affected by the weather. Example: lifeguards

Cyclical unemployment: a cycle of having increases and decreases in the amount of work that follows the business cycle. Example: automotive industry.

Structural unemployment: This type of unemployment occurs when there aren't enough jobs to support the people who are trained in a certain field. Example: computer technology in the 90’s.

Why we study unemployment

Unemployment is when people are out of work or actively looking for work. We study unemployment so we know what the affects of it are. Unemployment causes poverty and money becomes scarce. People have to abandon their homes and lives but no one can escape. Unemployment led America into the Great Depression and we should prevent it from ever happening again. People died from starvation and disease because no one could afford food or medicine.

Gini Curve and Income Distribution in the U.S.

Gini Curve and Income Distribution in the U.S.

Gini Curve and Income Distribution in the U.S. cont.

Gini index measures the extent to which the distribution of income or consumption expenditure among individuals or households within an economy deviates from a perfectly equal distribution.

In economics, income distribution is how a nation’s total GDP (gross domestic product) is distributed amongst its population.

Poverty

In 2011, 46.2 million people (15.0 percent) were in poverty.

In 2011, 16% of Americans were living in poverty

Total number of children that die each day due to Poverty: 22,000

In 2011, 9.5 million (11.8 percent) families were in poverty.

Current Event

http://money.cnn.com/2013/04/23/pf/taxes/obama-taxes/index.html

Works Cited

http://feedingamerica.org/hunger-in-america/hunger-facts/hunger-and-poverty-statistics.aspx

http://dictionary.reference.com/browse/seasonal+unemployment http://www.investopedia.com/terms/f/frictionalunemployment.asp http://www.wisegeek.org/what-is-cyclical-unemployment.htm http://www.reference.com/motif/society/example-of-cyclical-unemployment http://washington.cbslocal.com/2012/11/15/census-u-s-poverty-rate-spikes-nearly-50-mill

ion-americans-affected/ http://www.statisticbrain.com/world-poverty-statistics/ http://www.businessdictionary.com/definition/structural-unemployment.html https://blog.dearbornschools.org/farhoua/2012/12/12/ http://www.census.gov/hhes/www/income/ https://www.cia.gov/library/publications/the-world-factbook/rankorder/2172rank.html http://commons.wikimedia.org/wiki/File:United_States_Income_Distribution_1947-2007.s

vg http://www.census.gov/prod/2012pubs/acsbr11-02.pdf http://www.investopedia.com/terms/u/unemployment.asp http://www.investopedia.com/search/default.aspx?q=unemployment%20rate http://www.life123.com/career-money/find-a-job/unemployment/types-of-unemployment.s

html http://economics.about.com/od/unemployment-category/a/Types-Of-Unemployment.htm

Crossword Puzzle Word Bank

Poverty RatePoverty ThresholdIncome DistributionGDPFrictionalCyclicalSeasonalStructuralUnemploymentUnemployment RateGini CurveUnderemployment