The assignment talks about Civilian labor force-Riverside Case analysis. So classify civilian labor force in Riverside into one of the following unemployment types: structural, cyclical, and frictional unemployment and explain why • Calculate how many of civilian labor force in Riverside would fall into each type of unemployment

Civilian labor force-Riverside Case analysis

Write an economic report using at least 200 words for each task. (This means the total number of words must be 600 for three tasks, at the minimum) Make sure you provide biblical perspectives in your report. You also need to include any references (including textbook) using the appropriate APA format. Task 1: Categorize the following groups of people by different types(structural, cyclical, or frictional) of unemployment and report it to the BLS (Bureau of Labor Statistics) in a month. The document you receive has the following information: “There are 330,000 people reside in Riverside. Among them, 40% of the population is civilian labor force. The 15% of civilian lost their jobs because their job skills  not required any longer. 30% of civilian workers are unemployed because the economy is busted. 55% of remaining civilian workers are actively looking for jobs.”

Civilian labor force-Riverside Case analysis

• Classify civilian labor force in Riverside into one of the following unemployment types: structural, cyclical, and frictional unemployment and explain why • Calculate how many of  labor force in Riverside would fall into each type of unemployment.  Task 2: You were notified by researchers from the BEA (Bureau of Economic Analysis) that a recent growth in consumer’s confidence index decreased by 20%, while recent technological breakthrough in medical and cell phone industries led to a cost savings and an increased productivity across the nation. (Note that consumer confidence index (CCI) measures the degree of optimism that consumers feel about the overall state of the economy, and the higher the CCI, the higher the consumption.) • Discuss the change in price level and real GDP based on the events occurring in the scenario (Hint: study aggregate demand and supply shifters).

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