Can it be considered acceptable to policy makers to have about 7 million people classified as unemployed in the U.S.? Explain.

Sure. see

http://en.wikipedia.org/wiki/Natural_rate_of_unemployment

http://en.wikipedia.org/wiki/Unemployment

To answer this question, we need to understand the context and criteria used to classify unemployment, as well as the perspective of policy makers. Here's how you can approach it:

1. Define unemployment: Begin by explaining that unemployment refers to the situation where individuals who are willing and able to work are actively seeking employment but are unable to find a job. It is typically measured as a percentage of the labor force.

2. Determine the current unemployment rate: Look up the official statistics or reports from the U.S. Bureau of Labor Statistics or other reliable sources to find the actual unemployment rate. As of January 2022, the unemployment rate in the U.S. is around 3.9%.

3. Analyze the significance of the unemployment rate: Compare the current unemployment rate with historical data to assess its significance. For example, note that during periods of economic stability, there will always be some level of unemployment as people transition between jobs or enter the labor market. However, if the unemployment rate is unusually high or persists for an extended period, it may indicate underlying issues in the economy.

4. Understand policy maker perspectives: Policy makers generally aim to promote economic growth and stability while addressing unemployment concerns. There are typically multiple factors they consider when formulating policies, including fiscal and monetary measures, labor market conditions, and social welfare programs.

5. Contextualize acceptability: Discuss how policy makers view unemployment within the broader economic context. For instance, a certain level of unemployment may be considered acceptable if it reflects a natural rate resulting from frictional (transitional) or structural (long-term) factors. Additionally, policy makers may prioritize reducing inflation or balancing other economic indicators.

6. Explain policy interventions: Elaborate on the measures policy makers can take to address unemployment, such as implementing favorable tax policies, providing training and education programs to enhance job skills, encouraging business investment and job creation, or extending unemployment benefits to support those actively seeking work.

7. Consider other factors: Highlight that the acceptability of a certain unemployment level is subjective and depends on various factors, including the state of the overall economy, political considerations, societal norms, and the specific goals of policy makers.

By following these steps and incorporating relevant data and analysis, you can provide a comprehensive and informative explanation of whether having approximately 7 million people classified as unemployed is considered acceptable to policy makers in the U.S.