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Otavio Bartalotti (ISU)

Thursday, October 20, 2016 - 3:40 pm to 5:00 pm

Dr. Otavio Bartalotti Location: 360 Heady Hall

Description: Otavio Bartalotti
“Revising the Effects of Unemployment Insurance Extensions on Unemployment: A Measurement Error-Corrected Regression Discontinuity Approach”

Why aren't citizens who have given up looking for work not included in the unemployment numbers?

Abbreviated Question: 
Why aren't citizens who have given up looking for work not included in the unemployment numbers?
Answer: 

Various measures of the U.S. labor market are prepared and published by the Bureau of Labor Statistics (BLS), U.S. Department of Labor. The (civilian) labor force (L) is defined to be the summation of those in the non-institutionalized and non-military population who are 16 years of age and older who are employed (E) and those that are unemployed (U), L = E + U. Those not in the labor force (N) are persons who are in the civilian population 16 years of age an older and who are not employed or unemployed.

What would happen if all the unemployed started their own small businesses?

Abbreviated Question: 
What would happen if all the unemployed started their own small businesses?
Answer: 

There are many assumptions underlying your question. To begin with, we have to ask, why are people currently unemployed? assuming businesses are in it to maximize their profits, then if they are not hiring (which is why there are unemployed people) it must mean it is not in their best interest to hire, at least not at the level of wages potential employees are seeking.