In doing this exercise, students should be aware that the precise names of documents and their location within a website may change over time. 1. The US Bureau of Labor Statistics is the primary source of US government data on labor force statistics. These figures are reported monthly in the BLS Economic News Release titled "The Employment Situation." Visit the home page of the US Bureau of Labor Statistics at http.//www.bls govl. Find "The Employment Situation." For all questions, provide answers based on data for the most recent month (seasonally adjusted, if available): a. Using Table A-1, confirm that you understand how to calculate the labor force participation rate and the unemployment rate using the definitions provided at the start of this chapter. Show your work. b. Using Table A-1, find the current unemployment rate. How does it compare to the rate 1 year ago? What are the current rates for women and men over 16 years of age? c. Table A-4 provides current labor force statistics by educational attainment. What patterns do you see, and what might explain them? d. Table A-15 provides statistics on labor force underutilization. What is the current range of estimates of unemployment (lowest to highest)? Which measures do you think are most useful, and why? 2. A key online Bureau of Labor Statistics publication is called "Employment & Earnings Online." Visit the home page at https//www.bls.gow/opub/ee/. Click on The Labor Force: Definitions and Trends "Household Data from the Current Population Survey." Under data for "Annual Average Household Data," look for Table 27, "Unemployed Persons by Reason for Unemployment, Sex, and Age." a. For the most recent year available, what is the percent distribution of the unemployed by reason (e.g., job leaver, job loser, etc.) for each of these groups: men (ages 20+), women (ages 204), and teens (16-19)? b. What notable patterns do you see? What might explain these patterns?